G. Skaistė: "Europe must not be afraid to show leadership regarding frozen russian assets"
Commemorating the second year of russia's brutal war against Ukraine, Minister of Finance Gintarė Skaistė emphasizes that the European Union (EU) must ensure the effective provision of further financial support to Ukraine and demonstrate leadership in making decisions regarding the use of frozen russian assets for the benefit of Ukraine. "We cannot go into war fatigue and start treating the war like business as usual, we must understand that Europe will never be truly safe without a safe Ukraine, so we must give it all the opportunities to defend itself and thus defend us all," the Minister told the international media today in Ghent, before the start of the meeting of the Council of Finance Ministers of the European Union (EU) (ECOFIN).
"It is positive that we managed to agree on a EUR 50 billion financial support package for Ukraine, but now we have to make sure that the first financial injection of EUR 4.5 billion reaches the defending country as soon as possible, already next month. The latest assessment of damage and needs in Ukraine shows that more than EUR 450 billion will be needed to rebuild the country. This is a huge amount, and we must immediately mobilize all possible financial sources, including the seizure of the frozen assets of the russian central bank. The discussions of the G7 countries give hope that together we will find appropriate solutions that will enable the use of frozen assets for Ukraine's needs. In this regard, Europe must not be afraid to take leadership," said Minister G. Skaistė.
Finally, the Minister noted that it is necessary to continue increasing the pressure on the russian economy through sanctions and their effective implementation.
"We must not stop and start now working on the fourteenth package of sanctions against russia, including areas that have not been touched so far, including segments of the energy sector and the financial sector. We also need to strengthen the enforcement of sanctions and prevent circumvention. We are with Ukraine until victory, so we have to do everything for it to win," said Minister G. Skaistė, commemorating the second year of russia's war against Ukraine.
The statement to the media made by Minister of Finance G. Skaistė before the ECOFIN Council meeting in Ghent is here.
The Minister’s statement has also been quoted by Bloomberg.
Last updated: 29-02-2024
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