As the west debates how to force Russia to pay for the damage of the war it started, the European Union’s top diplomat proposed the EU nations should seize frozen Russian foreign exchange reserves to rebuild Ukraine after the war, according to a report on May 9.
He believes that the U.S. approach in disposing of the Taliban regime’s assets in Afghanistan could serve as a template, calling the move “full of logic.”
According to the EU Council, Ukraine’s reconstructing program will require hundreds of billions of euros, and Europe expects to cover most of the bill. Existential aid commitments, however, amount to a drop in the bucket. US president Biden has once suggested auctioning off the frozen assets of the Russian oligarchs to kick-start the reconstruction of Ukraine.
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