'This Is Most Painful Loss For Russia's Elites'

• 6.01.2024, 21:48

Zelensky has made a strong move.

Ukrainian President Volodymyr Zelensky has called for the transfer to Ukraine of frozen Russian assets abroad, amounting to about $300 billion.

Writing on Twitter,, the Ukrainian leader said that Russian assets should be used to support Ukraine.

"This is a historic opportunity to make the terrorist state pay for its terror. The Russian elite and leadership don't care about human lives, but they do care about money. The loss of assets will be the most painful loss for them," he wrote, adding that if the assets are transferred to Ukraine, Russian elites will "feel the real strength of the international community" and see that the world is stronger than terror.

Zelensky added that the decision to use frozen Russian assets to support Ukraine would be a fair and legitimate response to its war of conquest and would send the right signal to all potential aggressors in the world.

Zelensky urged Ukraine's partners to move quickly to create an appropriate legal framework and said that tangible progress should be made this year on the issue of using frozen Russian assets for Ukraine's benefit.

He said Ukraine was relying on the leadership of the Group of Seven to achieve this goal. On 5 October, US Secretary of State Anthony Blinken said that his country, together with the EU, was considering legal powers to channel $300bn of Russian assets to Ukraine for reconstruction and other needs.

On 16 December, the Financial Times wrote that the G7 countries were moving closer to the possible seizure of Russian assets for transfer to Ukraine.

The FT suggests that the confiscation of Russian assets will be discussed at the next meeting of G7 leaders, scheduled for 24 February.