Ukraine is discussing the possibility of using frozen Russian assets as collateral for issuing its Eurobonds. Prime Minister Denis Shmygal stated this on air at a national telethon, Interfax-Ukraine reports.
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“The discussion is very difficult. There is no international legal framework. Today there is no political unity yet. But we are working and insisting, we have given several proposals,” Shmygal said.
In particular, we are talking about the creation of an international compensation instrument consisting of the International Fund, the International Register of Losses and the International Compensation Commission.
< p>“We are also discussing the proposal of British Foreign Secretary David Cameron to use Russian frozen assets as collateral so that Ukraine, using this collateral, can issue its Eurobonds and receive budget financing for them.
This is also an acceptable path for us . This pledge will be perpetual, interest-free, so we will be able to attract the same funds. But formally this will not be confiscation of assets, but an endless pledge until Russia reimburses these funds,” the prime minister said.
According to Shmygal, first of all, Ukraine insists that all Russia’s sovereign assets amounting to approximately $300 billion was confiscated and transferred to Ukraine for reconstruction and to cover other needs, including military ones.
Recall
EU High Representative for Foreign and Security Policy Josep Borrell said that The amount that could be received from the proceeds of frozen Russian assets could be about 3 billion euros per year.The money will go towards military and civilian support for Ukraine.