The European Council president has urged capitals to push forward with talks on using $300bn of confiscated Russian central bank assets for the reconstruction of Ukraine.
Charles Michel, who represents the bloc’s 27 national leaders, said he wanted to explore the idea of actively managing the Russian central bank’s frozen assets to generate profits, which could then be earmarked for reconstruction efforts.
The cost of reconstruction and recovery in Ukraine was last September estimated at just under €350bn by Ukraine, Brussels and the World Bank. That sum is likely to have soared following a campaign of Russian missile attacks.
