Ukraine is planning to use more than $460 million worth of assets seized from Russian banks to rebuild the country and compensate Ukrainians, Prime Minister Denys Shmyhal said at a conference in Lviv Saturday.
In a Facebook post about the conference, Shmyhal said Ukraine is developing procedures for using the confiscated assets to help Ukrainian citizens and their communities recover in the wake of Russia’s invasion.
The government is working with allies to develop a system based on an international treaty, which will help decide how to issue reparations to Ukrainians.
The system will include an international register of losses from the war, a commission to consider applications for compensation and a fund from which compensation will be paid.
Aid from abroad: The prime minister also said Saturday that Ukraine is using billions of dollars worth of assistance from the United States and European Union to rapidly restore the country’s battered energy infrastructure and other ailing sectors.
Kyiv expects additional aid to come from Norway and Japan.