Ukraine determined to seize all frozen Russian assets, claims US$50 billion is just the beginning

Ukraine remains committed to seize all frozen Russian assets, stating that US$50 billion is simply the beginning.

Source: press service of the Government portal

Details: During a meeting with World Bank Executive Director Eugene Rhuggenaath, Prime Minister Denys Shmyhal stated that Ukraine has not given up its claims to all frozen Russian assets.

Quote: "We appreciate the financial support of our partners, including the U.S., EU and IMF. We are going through this year with confidence. We are working to ensure that next year is just as predictable and stable," Shmyhal said.

Ukraine anticipates that financing the state’s needs in 2025 will be made achievable thanks to the usage of Russian sovereign assets frozen in the West. The G7 countries have agreed to a strategy that will allow Ukraine to earn US$50 billion in future revenues from these assets.

"This is only the first step. Our goal is to confiscate all the frozen assets of the Russian Federation," Shmyhal added.

Background: 

• Saudi Arabia has warned that it may sell European debt obligations if G7 member countries decide to seize over US$300 billion in blocked Russian assets.
• In addition, the British National Crime Agency (NCA) has asked a judge to permanently freeze US$1.4 million belonging to a Russian oligarch.

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