EU considers using frozen assets of Russian oligarchs to rebuild Ukraine

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The European Union (EU) is looking at ways to use frozen assets of Russian oligarchs to finance post-war reconstruction in Ukraine, European Commission President Ursula von der Leyen said on Thursday.

The commission has proposed a €9 billion loan to Ukraine to keep the country afloat as it struggles to fend off Russian invasion and wants to set up a post-war reconstruction facility.

“Our lawyers are working intensively to find possible ways to use the oligarchs’ frozen assets for the reconstruction of Ukraine. I think Russia should also make its contribution,” she told ZDF television.

Von der Leyen also said he was in favor of linking Ukraine’s long-term reconstruction with the reforms necessary for EU membership.

While Ukrainians see their future within the EU, certain standards must be met for membership in areas such as the rule of law and in the economic and political spheres, she said.

“The adhesion process depends a lot on how the candidate behaves and what he does. Ukraine wants to join the EU at any cost, which means that the motivation is strong to undertake the necessary reforms,” she declared.

“We will have to co-finance the reconstruction of Ukraine… it makes sense to address reforms at the same time, for example against corruption or building the rule of law,” she said.

Source: CNN Brasil

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