Estonia has developed a compensation mechanism that provides for the use of Russian funds for the needs of Ukraine - Shmyhal

Estonia has finalized the development of a compensation mechanism that provides for the use of Russian funds for the needs of Ukraine, Prime Minister Denys Shmyhal said during a joint press conference with Estonian Prime Minister Kaja Kallas, UNN reports .

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Today, Estonia is among the leaders in terms of defense and humanitarian assistance to Ukraine per capita. As of today, over 520 million euros worth of defense assistance has been provided, which is about 1.4% of the country's GDP

He added that Ukraine particularly appreciates that Estonia's support is becoming a long-term commitment. The Estonian government has developed a "Strategy for Ukraine's Victory" that provides for annual defense assistance to Ukraine in the amount of 0.25% of GDP over the next four years.

According to Shmyhal, during the meeting with the Estonian Prime Minister, they discussed in detail the mechanism of compensation for the damage caused to Ukraine by Russia.

Without a doubt, the losses should be compensated by freezing Russian assets. Estonia has already finalized a compensation mechanism that provides for the use of Russian funds for the needs of Ukraine. We look forward to its final approval

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Separately, the Prime Minister of Ukraine thanked the Estonian side for its active practical support of President Zelenskyy's Peace Formula. Recently, Estonia agreed to become a co-leader of point 5 of the formula, "Implementation of the UN Charter and restoration of territorial integrity.

Shmyhal emphasized that Estonia also plays a leadership role in Ukraine's Euro-Atlantic and European integration.

We expect to start negotiations on our accession to the EU in the coming months. I am confident that Estonia is our reliable partner in this matter

The head of the Ukrainian government also expressed hope that Estonia would support the decision to continue autonomous trade liberalization measures. According to him, duty-free trade will benefit not only Ukrainian but also European companies that export tens of billions of dollars worth of goods and services to Ukraine.

Our strategic goal is to continue developing transport logistics. In particular, we believe it is promising to involve Ukraine in the Rail Baltica logistics project. This will open up new opportunities for our exports and create another pillar for the Ukrainian economy

Shmyhal also emphasized the importance of imposing sanctions on Russian and Belarusian agricultural products. He also noted that Estonia is becoming one of the key partners in the recovery process.

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