EU to use Russian assets for Ukraine's reconstruction

The EU wants to use frozen Russian assets to finance Ukraine’s reconstruction. Brussels wants to use the Russian central bank’s frozen assets to help rebuild Ukraine as Ukraine’s infrastructure comes under sustained attack 10 months into the war. The EU will shift the Russian state’s liquid assets frozen under sanctions into a fund that will be actively managed to generate “stable and fair net returns” to help pay for Ukraine’s reconstruction. The underlying assets will not be permanently seized under the plan but will be returned to the Russian state if a peace deal is signed. “Russia must pay for its terrible crimes, including the crime of aggression against a sovereign state. Russia and its oligarchs must compensate Ukraine for the damage it has caused and cover the costs of rebuilding the country. And we have the means to make Russia pay for this,” Commission President Ursula von der Leyen said on Wednesday.