The United States of America has frozen Russian sovereign assets worth $8 billion, most of which are located in the European Union and Japan. Washington is already working on the transfer to Kyiv.
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They believe that Russia’s frozen assets should be used for the post-war reconstruction of Ukraine.
Penny Pritzker, the newly appointed special representative of President Joe Biden for economic recovery in Ukraine, stated this to the Financial Times.
Legal teams are working to understand what can be done with Russian assets.
Essentially, if I were to say not from a legal point of view, but from a moral and ethical point of view, then given the destruction that the Russians have caused to Ukraine, you know, they must contribute to the restoration of Ukraine. From a legal point of view, the question of how to do this is under development,” noted the special presidential representative for economic recovery in Ukraine.
She believes that the restoration of Ukraine after the war with Russia should begin now, despite the fact that hostilities continue.
Ukraine’s potential is extraordinary. It has enormous capabilities in agriculture, energy, metals and mining, critical minerals and a number of different sectors. But in order to realize this potential, preliminary work needs to be done, which can be successfully carried out now, and the Ukrainian government is ready to take on this challenge, Pritzker said.
Source: Racurs
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.