Russia Inflicts Over $600 Billion in Damage to Ukraine's Infrastructure

During the full-scale war, the Russian Federation has inflicted more than $600 billion in damage to Ukraine's infrastructure. Therefore, it is now time to revisit the discussion on Russia's frozen assets, which could become a vital financial resource for Ukraine.

This was stated by the acting Minister of Foreign Affairs of Ukraine, Andriy Sybiga, during a press conference alongside Belgian Foreign Minister Maxim Prevo. “This is just. According to the World Bank's estimates, as of today, the damage caused by Russia to Ukraine's infrastructure exceeds $600 billion. It is difficult for one country to overcome this alone. Moreover, this war is not only about Ukraine,” said Sybiga.

The diplomat emphasized that Ukraine is currently defending the entire freedom of Europe, paying the highest price with the lives of its servicemen. Therefore, support from partners is essential for maintaining the country’s stability and macro-financial balance.

“We believe that now is the time to actively return to the topic of frozen assets and discuss specific legal mechanisms through which they can be utilized for Ukraine's benefit,” Sybiga announced.

The acting Foreign Minister of Ukraine also highlighted that the use of Russian assets is one of the main avenues that could economically bolster Kyiv's position. “Thus, we as Ukraine will actively discuss this issue in European capitals and beyond. We are hopeful to reach clear and specific decisions. It must be a collective decision and a collective responsibility,” he emphasized.

Previously, it was proposed in the United States to use confiscated Russian assets for purchasing weapons for Ukraine. A relevant bill was introduced in the Senate by a bipartisan group of six senators.

The National Enforcement Service of Finland has seized around €3.7 million in assets belonging to the Russian state this year. These funds could be used to compensate a Ukrainian energy company for damages caused by Russia.

The Netherlands is also initiating a resumption of discussions in the European Union regarding the possible use of frozen Russian assets to support Ukraine, amounting to up to €210 billion.