Ukraine will receive profits from the assets of the aggressor country of Russian Federation frozen in Europe, this is EUR 3 billion per year. Deputy Head of the Office of the President Rostyslav Shurma said this at a press conference, talking about the results of the London conference on June 21-22, Ukrainian News Agency reports.
"Certain fundamental precedential decisions have been made concerning frozen (Russian) assets. There is a large number of frozen assets, but in terms of recovery, this topic is moving only in Ukraine. Other jurisdictions don't have much movement yet. There is a first precedent. There was a statement that at least income from frozen assets will be directed to the reconstruction of Ukraine. There is about EUR 200 billion frozen. Given the current level of interest rates, they produce about EUR 3 billion in annual equivalent. This amount was discussed," said Shurma.
He noted that the frozen Russian liquid assets are money and securities.
Shurma explained that the fundamental problem with the confiscation and transfer of frozen Russian assets to Ukraine is that these are sovereign assets that are subject to certain international rules. If the recovery of sovereign assets by one jurisdiction in another jurisdiction unilaterally takes place, then the rules of operation of the international financial system are questioned. In this regard, issuers fear that the dollar and the euro will lose the role of the reserve currency, because they will no longer be trusted.
At the same time, he said that Ukraine is now completing the design of some financial instruments that could potentially allow you to get this money quickly, not in the frontal, but through certain interim steps.
"I really hope that within a few months we can show that," Shurma said.
As Ukrainian News Agency earlier reported, the EU has frozen more than EUR 200 billion of assets of the Russian Central Bank.
In June, the Estonian government approved the principles of using the frozen assets of the aggressor country of Russia to support Ukraine.
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