Russia funds could be used to finance Ukraine reconstruction

TEHRAN, Oct. 31 (MNA) – An EU official says that $13.75 billion worth of Russian frozen assets could be transferred to a compensation fund for Ukraine reconstruction.

The figure has risen from the roughly 13.8 billion euros ($13.75 billion) “from oligarchs and other entities” that Reynders announced in July that the EU had frozen, mainly in five countries, Hurriyet Daily News reported.

Ukrainian officials are demanding that the funds be used to rebuild their country after the war.    

The total of frozen assets was 14.5 billion euros by mid-September when the Commissioner criticized the lack of efforts from several member states, including Hungary.     

In the interview, Reynders said of the frozen assets that “if it is criminal money confiscated by the EU”, it could “be transferred to a compensation fund for Ukraine”.     

“This amount is far from being sufficient to finance reconstruction,” he added.    

“So far, the assets of 90 people have been frozen, more than 17 billion euros in seven member states, including 2.2 billion euros in Germany,” he said.    

The sums totaling 17.5 billion euros were chiefly frozen by Austria, Belgium, Germany, France, Luxembourg, Ireland, and Italy, a spokeswoman for the European Commission told AFP, without giving further details.    

RHM/PR

News Code 193068

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