The Cabinet of Ministers of Ukraine has created a working subgroup on confiscation of frozen russian assets abroad

The Cabinet of Ministers has renewed the composition of the working group that develops mechanisms for compensation for damage caused by the russian war and created a working subgroup on the confiscation of frozen russian assets abroad.

This was announced at a government meeting by Prime Minister of Ukraine Denys Shmyhal.

According to him, the Ukrainian government is planning the recovery, engaging partners and seeking resources.

“Our unchanging principled position is that russia must pay for everything in full. According to an estimate we made with the World Bank, the reconstruction needs amount to $486 billion. During the full-scale war, the enemy has destroyed or damaged more than 250,000 residential buildings, up to 4,000 schools, more than a thousand hospitals and many other facilities,” the Prime Minister said.

Shmyhal noted that the President had set a task to ensure that russian assets frozen in the West are used for the benefit of Ukraine.

“Today we are taking an important step. We are approving a draft presidential decree that updates the composition of the working group that develops compensation mechanisms. And we are creating a separate subgroup that will directly work on the issue of confiscation of russian sovereign assets abroad,” he said.

The subgroup will also include representatives of ministries, the Prosecutor General's Office, the Verkhovna Rada, the NBU, and Ukrainian and foreign experts.

“We are already discussing with our partners the specific mechanisms of how russia should pay,” Shmyhal said.

Source: Government portal