EU diplomat suggests using Russian reserves to rebuild Ukraine

The European Union (EU) representative for foreign policy suggested today that the bloc should consider rebuilding Ukraine using Russia’s foreign reserves that are banned by the West.

“Someone needs to explain to me why this is good for Afghan money, but not so good with Russia,” Josep Borrell, who has taken over as EU High Representative for Foreign Affairs and Security Policy, told Britain’s Financial Times.

Photo: UOL Art

When citing “Afghan money,” Borrell was referring to the fact that in early February, The United States confiscated $7 billion from the Central Bank of Afghanistan that was deposited with institutions in the countryand transfer the amount to the US counterpart.

Through this action, the United States aims to use the sum to pay compensation to the families of the victims of the September 11 attacks and pay compensation Humanitarian aid in Afghanistan itselfAnd But without the money passing into the hands of the Taliban, the fundamentalist group that rules the country.

According to the Financial Times, About $300 billion of the $630 billion of Russian reserves held abroad have been frozenThis is thanks to the actions taken in February not only by the European Union, but also by the United States, the United Kingdom and Canada.

at the end of April, The World Bank has estimated the physical damage to various buildings and infrastructure in Ukraine as a result of the Russian offensive, which began in late February – about two months ago – at about US$60 billion..

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“These costs are increasing,” the foundation’s president, David Malpass, said at the time. after a few days, The US government has promoted the idea of using assets confiscated from Russian billionaires to rebuild Ukraine.

The EU High Representative said: “This is one of the most important political questions on the table: Who will pay for the reconstruction of Ukraine?” “We have money in our pocket,” he noted.

After the interview was published, Russian Deputy Foreign Minister Alexander Grushko criticized Borrell’s proposal. “This is completely illegal, and destroys the very basis of international relations,” He told the state-run RIA Novosti news agency.