Sybiha called for return to issue of using frozen Russian assets to support Ukraine
Ukraine wants to bring the issue of frozen Russian assets back into active international debate and secure a specific mechanism for their use. Kyiv will press for this not only in European capitals.
According to Censor.NET, citing "Interfax-Ukraine", Foreign Minister Andrii Sybiha stated this on 18 August at a joint press conference with Belgian Foreign Minister Maxime Prévot in Kyiv.
"It is time to actively revisit the issue of frozen assets"
Sybiha emphasised that the partners need to move on to a substantive discussion of the legal mechanisms that will enable Russian funds to be channelled towards supporting Ukraine.
"We believe that now is the time to actively revisit the issue of frozen assets, in order to discuss clear legal mechanisms for how they can be used by Ukraine," said the Foreign Secretary.
According to him, such a move would be fair given the scale of the destruction caused by Russian aggression. Sybiha cited a World Bank estimate, according to which the damage inflicted by Russia on Ukrainian infrastructure exceeds $600 billion.
"It is difficult for a single country to overcome this, and, moreover, this war is not about Ukraine. Ukraine is currently holding the line, defending the freedom of the whole of Europe, and in doing so is paying the ultimate price: the lives of its soldiers," he said.
Ukraine is awaiting concrete decisions
The Foreign Minister noted that the Russian Federation’s frozen assets could become one of the key sources of support for Ukraine’s macro-financial stability.
"Frozen assets are one of those key areas that could significantly strengthen us – through the direct use of Russian funds," Sybiha emphasised.
According to him, Ukraine will actively raise this issue in European and other capitals in order to reach "clear, concrete decisions".
At the same time, Sybiha emphasised that the decision regarding Russian assets must be a collective one, as must the responsibility for its implementation.
Belgium plays a key role in the debate on Russian assets, as a significant proportion of them are concentrated there. Brussels has so far opposed the direct confiscation of these funds due to the legal and financial risks involved.
