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Half the Kremlin's foreign reserves could be tapped, according to four EU states (Photo: Dennis Jarvis)

Russia's $300bn on table in EU talks on war repairs

The West should use a $300bn (€284bn) hoard of frozen Russian treasure to rebuild Ukraine, four EU states are lobbying finance ministers to consider.

"Like-minded nations have frozen around $300bn out of $640bn that the Russian Federation had accumulated in its foreign currency reserves — this constitutes a substantial source of funding for Ukraine and its post-war needs," Estonia, Latvia, Lithuania, and Slovakia plan to say in a joint declaration seen by EUobserver.

"On top, we ...

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Author Bio

Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.

Half the Kremlin's foreign reserves could be tapped, according to four EU states (Photo: Dennis Jarvis)

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Author Bio

Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.

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