“We don't even have an approximate timeline” - The President's Office does not know when Ukraine will receive $50 billion from frozen Russian assets

It is unclear how and when Ukraine can receive a loan from the proceeds of frozen Russian assets worth $50 billion. Ukraine is asking for a clear roadmap on how this money will be provided. This was stated by Deputy Head of the Presidential Office Iryna Mudra at the conference "Make Russia pay", UNN reports. 

What we have  today, the end of September, when the G7 decision was made in June of this year about 50 billion -  today we have received zero whole and zero tenths

According to her, 1.4 billion euros of frozen Russian assets, which the EU will use to support  Ukraine, have remained in the EU. They will be used for Ukrainian needs, but Ukraine has not yet received anything from these funds.

"We don't even have a timeframe for today, although in June the G7 leaders promised us that by the end of the year Ukraine would receive a portion of these 50 billion. Today, we do not understand either organizationally, technically, or legally what it will look like, through what instruments we will be provided with these 50 billion, and under what conditions

Mudra called on Ukraine to provide a clear roadmap on how this money will be provided to our country. 

She also pointed out that progress on the use of Russian assets for the benefit of Ukraine is hampered by economic concerns.

 "The main factor, having the experience of communicating with them for 2.5 years, I have become convinced that today this is the biggest obstacle that prevents us from getting these 50 billion - political will. Because when it exists, legal structures and safeguards against economic and financial shocks can be worked out. And they have already been created. What we don't have today is political will," she added.

G7 to unblock $50 billion of Russian assets for UkraineJun 12 2024, 07:55 PM • 106274 views