Estonia has developed a mechanism for using frozen assets of the Russian Federation for the needs of Ukraine - Shmyhal
Kyiv • UNN
Estonia has finalized the development of a mechanism for using frozen Russian assets to help Ukraine, as discussed by the Prime Ministers of Ukraine and Estonia during their meeting.
As part of its assistance to Ukraine, Estonia has developed a mechanism for using frozen Russian assets for Kyiv's needs. This was stated by Ukrainian Prime Minister Denys Shmyhal during a joint press conference with his Estonian counterpart Kaja Kallas, UNN reports citing the press service of the Cabinet of Ministers.
Details
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.
There is no doubt that the losses should be compensated at the expense of frozen 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
Separately, Denys Shmyhal emphasized the importance of authorizing agricultural products made in Russia and Belarus.
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Denys Shmyhal 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 us.
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
Addendum
The Ukrainian Prime Minister also said that Estonia is currently among the leaders in terms of defense and humanitarian aid to Ukraine per capita. As of today, defense assistance has been provided in the amount of more than 520 million euros, which is about 1.4% of the country's GDP.
We especially appreciate that Estonia's support is becoming a long-term commitment. The Estonian government has developed the "Strategy for Ukraine's Victory", which provides for annual defense assistance to Ukraine in the amount of 0.25% of GDP over the next 4 years
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.
Recall
Countries sympathetic to Russia are privately calling on the EU not to confiscate more than 200 billion euros worth of frozen Russian state assets to help rebuild Ukraine, fearing that this could set a precedent for confiscating their own assets.
