Baltic states call on G7 countries to use immobilized Russian assets for benefit of Ukraine

RIGA - On June 12, in a joint letter the foreign ministers of three Baltic states call on G7 states to work towards using immobilized Russian assets for the benefit of Ukraine, LETA learned from the Foreign Ministry.

Ahead of the G7 meeting that begins today, Estonian Foreign Minister Margus Tsahkna, Latvian Foreign Minister Baiba Braze and Lithuanian Foreign Minister Gabrielius Landsbergis state that Russia’s aggression against Ukraine is a brutal and blatant violation of the United Nations Charter and the rules-based international order and Russia must be held accountable.

“If aggression is left unpunished and the aggressor does not have to compensate for the damage done, it will send a message that aggression pays off,” the foreign ministers say in the letter.

According to the World Bank, nearly EUR 500 billion is needed over the next decade for recovery and reconstruction and the entire reconstruction can reach up to EUR 1 trillion.

“Reconstruction in Ukraine must not be the burden of our taxpayers, instead Russia must comply with international obligations and compensate all damages caused by its aggression,” the ministers emphasize.

The joint letter recognizes the G7 states for their efforts to use Russia’s immobilized assets so far and calls on the organization to work closely with the European Union, international partners and allies to achieve this goal.

“We emphasize our common determination to raise the cost of aggression, help Ukraine win the war and rebuild their country,” the foreign ministers write. “Support to Ukraine is an investment in international peace and security,” the foreign ministers said.