During the Meeting with Executive Vice-President of the European Commission Valdis Dombrovskis the Minister of Finance: “ In the Run-Up to the Anniversary of the Russian War, We Must to Adopt Another Strong Package of Sanctions and Tirelessly Help Ukraine”

Today, the meeting of Minister of Finance Gintarė Skaistė with Executive Vice-President of the European Commission Valdis Dombrovskis focused on the need to provide more financial assistance to Ukraine and the planned tenth package of sanctions against Russia.

“Europe has no right to surrender to the fatigue of the Russian war, especially ahead of the anniversary of the wide-range invasion. In this context, we must make high-principled decision on adoption of a strong package of sanctions against Russia by further expanding financial sanctions against the aggressor. At the same time, we should be ready to expand financial and humanitarian assistance to Ukraine by mobilising additional resources. The agreement on the support of EUR 18 billion for this year is significant, but we also need to think about the next stage of the country’s reconstruction. One of the options to finance it, is to use frozen Russian assets, both public and private “, – said Minister of Finance G. Skaistė.

The European Commission is currently looking for ways to address this complex issue and use the frozen assets, which, according to preliminary estimates, could amount to EUR 300 billion. The use of these funds could be a solution for Ukraine, given that Russia can never sign a peace treaty and pay Ukraine the legitimate reparations.

Minister G. Skaistė also emphasised the need for wide-range assistance to Ukraine in response to the needs of both short and longer-term reconstruction of the country.

A review of fiscal rules with an emphasis on the principles of sustainability of public finances and objectivity of the rules was also discussed at the meeting with Executive Vice-President of the European Commission Valdis Dombrovskis.

Last updated: 15-02-2023

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