Ukraine's President's Office expects US$15 billion in annual revenues from seized Russian assets

The President's Office estimated that Ukraine could receive up to US$15 billion per year from frozen Russian assets.

Source: Rostyslav Shurma, Deputy Head of the President’s Office, at a scientific and practical international conference on the compensation mechanism at the Institute of International Relations of Taras Shevchenko National University of Kyiv, reports European Pravda with reference to Interfax-Ukraine

Quote: "The first task is not to obtain frozen Russian assets themselves, but to receive income from the assets. Because at the current level of interest rates in the world, the revenues can reach US$15 billion per year," he said.

Shurma noted that these revenues can temporarily be a good support for the state budget, financing the economy and citizens, while the fight against Russian aggression continues.

"But, of course, our priority task is to get all Russian assets, sovereign assets, assets of oligarchs to compensate for all the losses that the Russian Federation has caused to our state. And we will actively work on it," Shurma said.

On 12 December, the European Commission approved the prepared proposition on the mechanism of using income from frozen sovereign assets of Russia in favour of Ukraine, which the European Council took note of on 14 December. 

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