Today: Tuesday, 16 August 2022 year

Finance Ministry of Canada announced plans to use Russian assets to restore Ukraine

Finance Ministry of Canada announced plans to use Russian assets to restore Ukraine

Ottawa considers it quite normal to finance the “colossal” needs of Ukraine in the restoration of the destroyed economy at the expense of Russian funds and has already begun work on a corresponding draft law. Such a statement on Friday, May 20, was made by Canadian Finance Minister Chrystia Freeland.

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“Canada recognizes, and our G7 partners agree with this, that Ukraine’s financial needs are colossal, the recovery needs are colossal, and it is entirely appropriate for the aggressor to help pay for this recovery,” she said, adding that “Canada comes with little ahead of the curve and is actually preparing such a bill.”

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Earlier, EU High Representative for Foreign Affairs and Security Policy Josep Borrell proposed to withdraw Russia’s foreign exchange reserves frozen as a result of sanctions and transfer them to Ukraine. Shortly before this, the US House of Representatives voted for a law allowing the US government to use the seized Russian assets, using them to support Kyiv.


The Ministry of Foreign Affairs of the Russian Federation announced the adoption of retaliatory measures for the possible confiscation of Russian assets.