By Eliza Popova
The Prime Minister also stressed that confiscated Russian assets will be needed to restore our country. As of the end of January 2023, the needs of Ukraine in restoration amounted to $ 600-750 billion. The head of government also recalled that as of June 2022, according to the World Bank and the European Commission, Ukraine was $ 350 billion.
According to Bloomberg, the EU and partners from the Great Seven have frozen about 300 billion euros ($ 311 billion) of the Russian Central Bank reserves, and in addition, 19 billion euros of Russian assets under sanctions. The publication notes that these estimates are not complete and assets are in a balanced state and cannot be distributed.
Meanwhile, according to focus in January 2023, an economist, a member of the Financial Analytists Society Vitaliy Shapran, countries freeze assets because it is profitable for them. Their banks are able to use a conditionally free resource for a very long time. "For example, Korean banks where Iran's foreign currency reserves were placed, since 1979, these assets have been detained. Another thing is to pass these assets to the victims - there were few such precedents," says Vitaliy Shapran.
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