Ukraine to be rebuilt with Russian oligarch’s assets

Ukraine to be rebuilt with Russian oligarch’s assets

The European Union (EU) is looking into ways of using the frozen assets of Russian oligarchs to fund the reconstruction of Ukraine after the war; European Commission President Ursula von der Leyen said.


The commission proposed on Wednesday a 9 billion euro loan to Ukraine; to keep the country going as it struggles to fend off the Russian invasion and wants to set up a reconstruction facility for after the war.


“Our lawyers are working intensively on finding possible ways of using frozen assets of the oligarchs; for the rebuilding of Ukraine.


ALSO READ: EU looks to renewables to speed up switch from Russian fossil fuels



”I think Russia should also make its contribution,” she told ZDF television.


Von der Leyen also said she favored coupling the long-term reconstruction of Ukraine; with reforms needed for it to join the European Union.


While Ukrainians see their future within the EU; certain standards have to be met for membership in areas such as the rule of law and in the economic and political spheres, she said.


Meanwhile, the World Health Organization has confirmed about 80 cases of monkeypox with recent outbreaks reported in 11 countries; according to a statement Friday from the global health agency.


The outbreaks are unusual because they are occurring in countries where the virus is not endemic, according to the WHO.


More cases will likely be reported in the coming days as surveillance broadens, it said.

About The Author

Osigweh Lilian Oluchi is a graduate of the University of Lagos where she obtained a B.A (Hons) in English, Masters in Public and International affairs (MPIA). Currently works with 1stnews as a Database Manager / Writer. [email protected]

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