Russia may provide $ 300 billion of its frozen assets for the reconstruction of Ukraine, provided that part of these funds will go to the territories controlled by Moscow in the process of a peaceful resolution of the conflict, Reuters reported, citing its sources.
According to their version, one of the ideas proposed in Moscow is that Russia may offer to use a significant part of the frozen sovereign assets to reconstruct Ukraine under the terms of a possible peace agreement. One source said Russia could agree to use up to two-thirds of the funds, provided there are guarantees of accountability.
Another source said Moscow would agree to use frozen assets to rebuild Ukraine, but it was too early to talk about specifics. Two sources stressed the importance of discussing which companies would receive future reconstruction contracts. Another source close to the Kremlin but not directly involved in the discussions said Russia would still demand the assets be unfrozen as sanctions are gradually lifted. The agency reported that the Kremlin declined to comment on the information. Reuters said it was unable to determine whether the idea of using the frozen funds was discussed between Russian and American delegations in Saudi Arabia.
The European Union, Canada, the United States and Japan have frozen about $300 billion worth of Russian assets since Moscow invaded Ukraine. Most of these funds are located in Europe, including in the international platform Euroclear in Belgium ($210 billion). The issue of confiscating these assets for the reconstruction of Ukraine is periodically raised by Western politicians and media. The official representative of the Russian Foreign Ministry Maria Zakharova said that Moscow will immediately take steps in response to the possible confiscation of its assets in the West with "a whole arsenal" of counter-political and economic measures.