City
Epaper

Ukraine seeks to seize Russia's assets for post-war recovery: PM

By IANS | Updated: April 29, 2022 16:06 IST

Kiev, April 29 Ukrainian Prime Minister Denys Shmyhal said his country is willing to seize Russian assets to finance ...

Open in App

Kiev, April 29 Ukrainian Prime Minister Denys Shmyhal said his country is willing to seize Russian assets to finance Kiev's post-war recovery.

"The funds of the Russian government and oligarchs will be one of the main sources for filling the Fund for the Reconstruction of our country," Shmyhal wrote on Telegram.

Ukraine is in talks with G7 countries over the seizure of Russia's assets, Shmyhal said, adding that Canada has already prepared legislation for such actions, reports Xinhua news agency.

Earlier, Shmyhal said that his cabinet has set up a recovery fund for Ukraine's long-term reconstruction and estimated that the country's full-scale recovery will cost around $600 billion.

Russia has over $600 billion worth of foreign currency reserves held in dollars, gold and other currencies, with about half of them believed to be frozen by the restrictions imposed by Western governments on its central bank.

The head of Russia's central bank has said it was preparing to take legal action to challenge the freeze.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: Russia Ukraine conflictXinhuaUkraineDenys shmyhalDenis shmyhal
Open in App

Related Stories

InternationalRussia-Ukraine War: Poland Urges Citizens to Urgently Leave Belarus 'By Any Necessary Means'

InternationalDonald Trump Says Zelenskyy Can End War With Russia by Giving Up NATO Bid and Crimea

International‘This Might Hit You Hard’: NATO Chief Mark Rutte's Warning to India, China, and Brazil Over Russia Ties Amid Ukraine War

MumbaiRs 142-Crore Investment Scam: Key Accused Traced in Ukraine; Mumbai Police Initiate Extradition Process

InternationalRussian Ballistic Missile Hits Odesa-Dnipro Train in Ukraine; Attack Caught on Camera

International Realted Stories

InternationalPoK leader Shaukat Mir compares Pakistan’s army to ‘witch bent on killing people’

InternationalPoJK, Gilgit-Baltistan activists highlight Pakistan's human rights violations at UNHRC session in Geneva

InternationalBangladesh: EC directs NCP to choose symbol from official list amid demand for 'Shapla'

InternationalBangladesh: Law Advisor Nazrul says no possibility of lifting ban on Awami League activities

InternationalBangladesh power vacuum exploited by opportunistic forces: Report