Ukraine has found solution to achieve the redirection of Russian billions abroad for reconstruction of the war-torn country

  • 2022-07-15
  • LETA/TBT Staff

RIGA - Ukraine has found a solution to ensure that the billions of Russian euros abroad are directed to the reconstruction of Ukraine, and Latvia has become the first country that has agreed to discuss such a solution, Ukrainian Justice Minister Denys Maliuska told journalists in Riga on Thursday, who arrived at the first Riga Justice Leaders' Forum.

One solution to winning the war is sanctions to block Russia and its decision makers. Ukrainian partners play a big role here, but this is happening relatively slowly.

"We see that thanks to the rise in oil and gas prices, Russia is getting more and more funds to finance the war it started. This means that we have to come up with even more sanctions to try to stop it," the minister emphasized.

Ukraine knows that Russia has USD 300 billion in Western countries. Russia is trying to move this money to China to convert it into gold.

"We need to fight to confiscate this money, so lawyers need to work so that this money gets to the people affected by the war and can help cover the reconstruction costs. Russia has built a fortress around this money abroad, and the people and cities of Ukraine affected by the war cannot get such funding. We must try to break this fortress," emphasized the Minister of Justice of Ukraine.

Taking into account the above, Ukraine has found a solution, that is, Ukraine in each country either concludes bilateral cooperation agreements or multi-party cooperation agreements with specific partners, which later convert these funds into currency and transfer them to a transparently managed fund. Later, these funds from this fund can be devoted to covering of the consequences of the war, to the affected people and cities, Maliuska explained.

He expressed his satisfaction that such discussions have started in Latvia. Latvia is also the first country that has agreed to discuss this with Ukraine.

"We have already talked about what specific wordings would form this type of agreement for further cooperation. Then we will show the whole world to follow Latvia's example!" emphasized Maliuska.