Russia may agree to use a sovereign assets of $ 300 billion frozen in Europe for reconstruction in Ukraine, but it will insist that the money is spent on one-five part of the country, in which Moscow Control of forces, three sources told Reuters.
Russia and the United States held their first face-to-face talks in Saudi Arabia on ending the Ukraine War on 18 February and US President Donald Trump and Russian President Vladimir Putin both said that they expect to meet soon.
After Putin sent troops to Ukraine in 2022, the United States and its colleagues banned transactions with Russia’s Central Bank and Finance Ministry, which $ 300- $ 350 billion sovereign property, mostly European, mostly European, Bonds of the US and the British government were held in a European Securities Depository.
While the discussion between Russia and the United States is in a very early stages, an idea in Moscow is that according to three sources, proposed to use a large portion of frozen reserves for reconstruction of Ukraine for reconstruction of Ukraine Can, according to three sources. Knowledge of the case.
Eastern Ukraine’s self -destructive war has been destroyed and hundreds of soldiers were killed or injured on both sides, while millions of Ukrainians have fled to European countries or Russia. A year ago, the World Bank had estimated reconstruction and reconstruction that $ 486 billion would be spent.
Sources spoke to Reuters on the condition of anonymity due to the sensitivity of the discussions and because the discussion is only early. Kremlin refused to comment.
The idea that Russia may agree to use frozen funds to help rebuild the Ukraine, not reported in advance, and it can give an insight that Russia can compromise as Moscow and Washington. Prepared for when Trump wants to end the war at a time. American access to Ukrainian minerals to repay Washington’s support.
The main demands of Russia to prevent the fight include the return of Kiev soldiers from Moscow claims in the Ukrainian region and ending Ukraine’s ambitions to join NATO. Ukraine says that Russia should withdraw from its territory, and wants security guarantee from the West. The Trump administration says that Ukraine has unrealistic, “confusion” goals.
Reuters could not establish whether the Saudi meeting discussed the idea of using frozen funds between Russia and American counterparts.
The group of seven stated in 2023 that the Russian sovereign wealth will remain frozen until Russia pays for the damage in Ukraine. Trump has said that he would like to return Russia to G7 in a group of rich nations.
Russian Central Bank Governor Elvira Nabiulina said on Thursday that there was no part of any dialogue when bank sanctions or raising Russia’s reserves.
Russia has earlier stated that Ukraine plans to use funds in robbery.
The Ukrainian Ministry of External Affairs and the White House did not immediately respond to the remarks requests. The British Foreign Office refused to comment.
“Nothing can be decided without Ukraine and the European Union without Ukraine and the European Union,” said Anitta Hipper, a spokesman of the European Commission. He said that the European Union and Member State were helping Ukraine to strengthen their position in front of any talks, including a new round of restrictions on Russia.
Renaissance Capital lead analyst Oleg Cauzamin said that the difference between the United States and Europe, which controls most assets, would complicate the freeze.
“This will require the European side to fully refund the current stance of America for the purpose of communicating with Russia,” Kozmin said, such a landscape is called “very optimistic”.
Two third partitions?
Russia’s frozen sovereign property has been the subject of intensive debate in the West, with some proposals it is essentially given to Ukraine through a complex “repatriation loan”.
With the knowledge of discussion in Moscow, a source said that Russia can accept up to two-thirds of reserves in the restoration of Ukraine under a peace agreement, provided that accountability is guaranteed.
The rest of the eastern Ukraine can move to Russian-controlled areas, which Russia now considers part of Russia, said the source.
Another formula with the knowledge of discussion would agree to use the money for the reconstruction of Moscow Ukraine, but it is too early to say what the potential partition could be. Two sources insisted that it was important to discuss which companies would get future contracts for reconstruction.
A separate source, close to the Kremlin but not directly involved in the discussions, stated that Russia would still demand a freeze on property as part of relief from gradual sanctions.
Many Western officials, especially in the German Government and the European Central Bank, have been reluctant to seize only sovereign reserves, warning that such a step may face legal challenges and a reserve currency to the euro Can weaken as
Russian authorities repeatedly warned that the free market goes against the market principles, destroys banking security and eradicates confidence in reserved currencies. In vengeance, Russia has drafted a law to seize funds from companies and investors from the so -called unfolded states, who have hit it with restrictions. Bill has not yet been voted in the Russian state Duma Lower House.
European freeze
At the time when the property was frozen, the central bank of Russia stated that it organizes about $ 207 billion in Euro property, $ 67 billion in US $ and $ 37 billion in British pounds.
This included Japanese yen of $ 36 billion, $ 19 billion in Canadian dollars, $ 6 billion in Australian dollars and $ 1.8 billion in Singapore dollars. Its Swiss Frank Holdings was about $ 1 billion.
Russia reported its total gold and foreign exchange reserves, including about $ 627 billion, including frozen funds. The value of Russia’s frozen property ups and downs according to bond prices and currency movements.
The bank’s largest bond holdings were in the sovereign bonds of China, Germany, France, Britain, Austria and Canada. Russia’s gold reserves were held in Russia.
Euroclear has said that about 159 billion euros assets were managed by the Belgium Clearing House Eurochalar Bank earlier last year.
While the cold of the fund has angered Moscow, some of Russia’s most vocal war hawks have earlier admitted that Russia can eventually participate with frozen reserves, provided that the controlled areas live within Russia.
In 2023, the Russian state broadcaster RT chief Margita Simonian said, “I propose a solution. They pay this money for the purchase of areas that the land wants to live with us.”
Ukraine’s Russian-controlled regions are about 1% of Russia’s GDP, but some economists believe that their share may grow quickly when the war is over with Russia. The areas already provide about 5% of Russia’s grain crop.
(Except for the headline, the story has not been edited by NDTV employees and is published by a syndicated feed.)
