The idea of introducing a special tax on Russian resources, such as oil, gas, and diamonds, after the victory to cover the damage caused by the aggressor is still under discussion, and no specific decisions have been made. Ukraine is now focused on sovereign assets and foreign exchange reserves. The special tax is an additional tool. Denys Malyuska, Minister of Justice of Ukraine, told UNN.
Details
When asked at what stage the idea of introducing a special tax on Russian resources, such as oil, gas, and others, after the victory is at, Malyuska replied: "This is just the beginning of the discussion. There are no concrete decisions yet. We are now focused on sovereign assets and foreign exchange reserves. So, this is the first step.
Malyuska noted that as soon as Ukraine understands how much money was taken to compensate for the damage, other instruments will be considered that need to be introduced in addition to the confiscation of Russian sovereign assets.
"Because, obviously, all the reserves will not be enough for compensation, but given that the idea that foreign exchange reserves should also be used not only for reconstruction and compensation, but also for assistance to Ukraine, including armed assistance, is gaining more and more popularity. This means that the amount of money that will be used to compensate for the damage and reconstruction is becoming even smaller. This means that the need for additional instruments is even greater. That is, as soon as we determine the number of needs, we will think about additional tools that need to be introduced in addition to the confiscation of Russian sovereign assets," said Malyuska.
Світовий банк: потреба на відновлення України оцінюється у 486 млрд доларів15.02.24, 10:58
However, he noted that the idea of introducing additional special taxation of Russian oil, gas, and diamonds after the victory to cover the damage caused by the aggressor is indeed a possibility, and Ukraine is promoting it in the international arena.
When asked how this idea is perceived in the international arena, the minister replied: "In different ways. This is not yet the stage where we have a clear understanding of each country's attitude to this idea. With regard to foreign exchange reserves, we have an understanding of what is happening in each country, who supports it, who does not, who is neutral. Here we do not have a complete picture yet, it is still a very early stage.
Context
Ukraine proposes that after the victory, international partners introduce additional special taxation of Russian oil, gas, diamonds, and all other raw materials to cover the damage caused by the aggressor.