Shmigal released the estimate on his official channel on the Telegram digital platform, also asserting that international powers and organizations should ensure that Russian assets frozen around the world are used to finance the reconstruction of Ukraine.

The head of the Ukrainian executive held a meeting today with the leaders of the Atlantic Council and the Hoover Institute, two important North American think tanks, to whom he explained “the economic, political and legal reasons for the confiscation of so much of Russia’s sovereign assets like oligarchs”.

“Russia has to pay. We are working with experts and partners to put this principle into practice”, highlighted Shmigal, also referring to the possibility of imposing a “special tax on Russian resources” – such as oil and gas – when Ukraine is declared the winner of the war.

Russia invaded Ukraine on February 24, 2022, with the argument of protecting pro-Russian separatist minorities in the east and “denazifying” the neighboring country, independent since 1991, after the disintegration of the former Soviet Union, and which has been move away from Moscow’s space of influence and get closer to Europe and the West.

Already in the third year of war, the Ukrainian Armed Forces are faced with a lack of weapons and ammunition, despite promises of help from Western allies, in a conflict that has already claimed tens of thousands of lives on both sides, many of them civilians, and with no chance of talks between Moscow and Kyiv in sight.

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