April 24, 2022

IT'S A START...:

Calls grow to seize Russian assets to help pay for Ukraine's reconstruction (Jim Puzzanghera, April 23, 2022, Boston Globe)

Now, Ukrainian officials are leading a growing movement calling on the US and its allies to make Russia pay to repair that staggering damage, by seizing the hundreds of billions of dollars in Russian assets frozen by Western sanctions.

The money -- about $300 billion in Russian central bank foreign reserves and tens of billions of dollars more in oligarch wealth around the world -- would be used to rebuild devastated Ukrainian cities, offset the economic damage in the country and elsewhere, compensate families for the death of loved ones, and even pay for weapons to defend against the invasion.

"Those monies that were blocked and frozen have to be used to rebuild Ukraine after the war as well as to pay for the losses caused to other nations," Ukrainian President Volodymyr Zelensky said in a remote address to world finance officials gathered in Washington on Thursday. "If there is starvation started in some regions [of other countries] due to Russia's war, those frozen assets can be used to pay for the assistance and compensation."

Posted by at April 24, 2022 12:00 AM

  

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