Reuters: Russia considers transferring $300 billion of frozen assets for Ukraine’s reconstruction in exchange for peace deal
Russia may agree to hand over its $300 billion in frozen assets for Ukraine's reconstruction but will demand that the funds also be used to rebuild the temporarily occupied territories.
This was reported by Reuters with reference to three sources, Censor.NET informs.
According to the publication, after Russia's invasion of Ukraine in 2022, the United States and its allies blocked about $300-350 billion in Russian assets. These funds, mostly in the form of US, European, and UK government bonds, are held in European depositories.
As noted, Russia is considering using a significant portion of these frozen assets for the reconstruction of Ukraine as part of a possible peace agreement. At the same time, Moscow demands that part of the money also go to restore the temporarily occupied territories.
Although negotiations between Russia and the United States are at an early stage, the idea of using the frozen assets of the Central Bank of Russia to rebuild Ukraine is new and may indicate concessions from Moscow.
Last year, the World Bank estimated that $486 billion would be needed to rebuild Ukraine.
As a reminder, the leaders of the Group of Seven countries have agreed on a mechanism to provide $50 billion in aid to Ukraine through the use of frozen Russian assets.
According to this plan, the EU and the US will each contribute about $20 billion, and the remaining $10 billion will be shared by the UK, Japan, and Canada. In particular, Canada will provide Ukraine with 5 billion Canadian dollars ($3.7 billion) as part of the financial support of the G7 countries.
