This year, the Cabinet of Ministers plans to develop and approve a mechanism for the complete confiscation of Russian frozen assets in favor of Ukraine. This was announced by Prime Minister Denys Shmyhal during a government meeting, UNN reports.
"This year we expect funds from the EU under the Ukraine Facility, as well as from the IMF under our joint program. In addition, the G7 countries and the EU will provide Ukraine with $50 billion, which will be secured by Russian frozen assets. Our goal this year is to develop and approve a mechanism for the full confiscation of Russian frozen assets in favor of Ukraine," Shmyhal said.
The Prime Minister emphasized that these funds should become the basis for financing Ukraine's recovery and resilience.
"We have a clear understanding of how we are going to get through this year in terms of finances. We will ensure all priority expenditures: pensions, salaries and social support," said Shmyhal.
Addendum
The bloc's chief economic official, Valdis Dombrovskis, said that the European Union should consider taking bolder measures, such as confiscating frozen assets of the Russian central bank to compensate Ukraine.
In December 2024, Ukraine received $1 billion from the United States, secured by the proceeds of frozen Russian assets.