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Baltics, EU uses frozen assets for Ukraine reconstruction

Declaration to adopt sixth sanctions package promptly

30 May, 14:00
(ANSA) - BRUSSELS, MAY 30 - Estonia, Latvia, Lithuania and Slovakia, in a joint statement viewed by Ansa, called on the EU to "identify legal ways to maximize the use" of frozen assets of Russian individuals and entities as well as the Russian Central Bank "as a source of funding" to support "both the costs of Ukraine's efforts to resist Russian aggression, as well as the post-war reconstruction of the country." "The Russian state," the note reads, "must be held responsible for its unjustified military aggression against Ukraine and the war crimes committed against the population, in line with the principle that the aggressor pays.' Therefore, a substantial portion of the costs of Ukraine's reconstruction, including compensation for the victims of Russian military aggression, must be covered by Russia." "The confiscation of state assets, such as central bank reserves or property of state-owned enterprises, has a direct connection and an effect in this regard," the note adds, recalling that to date have been frozen "about $300 billion out of the $640 billion that the Russian Federation had accumulated in its foreign exchange reserves." (ANSA).

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