A two-day conference on Ukraine’s future reconstruction efforts kicked off in Switzerland on Monday, and Ukrainian officials put the price tag for their “recovery plan” at $750 billion.
Addressing the conference virtually, Ukrainian President Volodymyr Zelensky said the reconstruction of Ukraine is a “common task of the entire democratic world — all countries, all countries who can say they are civilized.”
Ukrainian Prime Minister Denys Shmyhal said the funding would need to come from grants and loans from partner nations, independent organizations, corporations, and Ukraine’s own budget. But he said Ukraine believes the “key source of recovery should be confiscated assets of Russia and Russian oligarchs.”
The US and EU have seized the assets of Russian billionaires and froze Russian foreign currency reserves, funds totaling about $300 billion. Western officials have explored the idea of using frozen Russian funds to spend on Ukraine, but the step would be a major escalation in the economic campaign against Moscow, as it would amount to outright theft.
The EU’s foreign policy chief, Josep Borrel, had previously said he favored using Russian funds to pay for Ukraine’s reconstruction, calling such a move “full of logic.” In May, Treasury Secretary Janet Yellen said the US was looking at the idea, but conceded that it would “not be legal now.”
According to a document seen by Reuters, the EU’s European Investment Bank pledged to raise over $100 billion for Ukraine’s reconstruction effort. The UK also vowed to help at Monday’s conference and said Ukraine would need a project similar to the Marshall Plan, the US government-funded rebuilding of European nations after World War II.
According to the State Department’s National Museum of American Diplomacy, under the Marshall Plan, the US contributed $13.3 billion in aid to 16 European countries from 1948-1951, the equivalent of $150 billion in today’s dollars.
22 thoughts on “Ukraine Says It Needs $750 Billion for Recovery Plan”
LOL Go ahead, send it – that will pay back Russia for the $300 billion in foreign currency reserves the West seized – and give Russian a $400 billion profit.
Not to mention the theft of property from wealthy Russians that must be returned. The 5th Amendment, as explained by former Judge Andrew Napitolano: https://www.creators.com/read/judge-napolitano/03/22/sanctions-on-russia-violate-the-constitution
The task of rebuilding Ukraine is going to fall on Russia. That’s becoming pretty obvious. Meanwhile these funds from West will wind up in bank accounts in places like Panama.
Ukraine is a bottomless pit for ceaseless hand-outs, so the regime’s leaders will be billionaires.
Any country that sent weapons to Ukraine can pay reparations to Russia after they liberate all of Ukraine from the Lithuanian-Polish fascist.
A trillion from the EU, A trillion from the UK and a Trillion from the US should just about equal what is needed.
About right. That some dream of Lithuanian Polish power is clear to anyone knowing a smidgeon of European history. But it is no less that a reconstruction of Hazar Empire. But for it, Crimea is needed. Old dreams do not die. They just migrate from one host to another.
From Constantinople that betrayed it by backing Russian rulers, money migrated to Venice. Venice money paid for “crusade” on Constantinople, plundered its wealth, and revenge was complete.
Then Ottoman empire became another host, and Hazar money under Ottoman Tatar vasals, reconstructed slave trade, the most profitable
slave trade in history. Vast Slavic lands became hunting grounds for slaves sold from Crimean ports. And it was bad Russians again for the second time that crushed slave trade, and scattered their money throughout European city-states. But the major hosta became France and UK. France under Napolein was just one more money backed attempt to crush Russia. Even though Russia helped Bourbons return to power after chasing Napoleon to Paris -/ itvwas to no avail. Even though it was no longer major host of Slavic slave trade money — that honor passed on to Brittain — it betrayed Russia by participating in Brittish led Crimean wars. Brittain suffered high casualties as Russia defended Crimea. The ostensible casus belli -/ to restore Ottoman Tatar vasals to power was somewhat achieved — but with Brittain demanding limitations on use of both Russian AND Ottoman naval powers! Erdogan mentions this British perfidy till today! This British “victory” did not last. Prusdia refused to recognize British terms imposed on Russia.
But no worries, Prussian perfidy and their pro-Russian stance was to be fixed soon. Queen Victoria grandson clumbed to German throne, and the first act was to fire Bismarck, and decrease influence of Prussia. British money groomed Ukrainian Hazar Trotsky in Germany and staged eventuality a fiirst color revolution, Red one. And groomed post-Ottoman “secular” leader for its purposes.
While WWI was a success for British private money — taking many parts of Ottoman empire — state debts were unbearable. Victoria’s grandson, the despised Keiser, did his job, and retired comfortably. But Britain could not squeeze blood from Germsn turnip — as Versailles did not pay. Other than suceeding in breakung up troublesome Prussis for good — it wax dero un debt. And slave money migrated to new host — Wilson’s newly minted Federal Reserve heaven. Private profit, public covered losses. So now, a condo association headed by US that binds all European debtors with ine ring — take one more shot. The last stand?
What,pray tell is a “hazar”-i never heard about it in driving class.
Zelensky is salivating dreaming of the day he will be collecting reparations from Russia.But he is too modest.Only 750 billion
Yeah, and bask in the sun in his $3.5 million mansion in Southern Florida.
Zionists keep the plane ready to take off for him
So he made money as an actor, and has his own business. What’s wrong with having properties? Are you suggesting this is money he made illegally?
Putin is arguably the richest man on earth, from the Gas business, do you have a problem with that too?
Ukraine may receive some money from EU but it will receive the same money Iraq, Afghanistan Libya and Syria received from US for their re-construction projects…!
I’ll get back to you after we pay to fix up .. let’s see: central america, Iraq, Libya, Syria, and of course Yemen, and that’s just for starters.
And since Zelensky thinks he’s part of the “entire democratic world — all countries, all countries who can say they are civilized”, he’ll have to put Ukraine’s fair share into fixing up those other countries too.
That’s a pretty unfair statement coming from the ‘smartest’ guy in the team. Don’t you think? You know what your boy Putin has done to his country. It is his job to ask for assistance. Perhaps he could return the favor someday after the war is over and Ukraine can be free to have global natural gas trade.
I quoted Zelensky. He said it’s the “common task” for the entire democratic world for which he seems to think his country is part of. So, my statement wasn’t unfair, and I was, in fact, agreeing with Volod. Putin, who you seemed infatuated with, wasn’t relevant to what I replied to.
If they had kept their asses neutral they could have been sitting high on the hog. But no, we had to get our dirty hands in there.
So; right now, Russia is on the hook to rebuild those areas they have taken, which they will. But the proposal is, “give Ukraine billions of dollars in military aid, so that they can pummel and reduce to rubble the occupied territories, in order to “retake” them”, and then give Ukraine HUNDREDS of BILLIONs of dollars in order to rebuild what they’ve just destroyed, and meanwhile, give them billions and billions of dollars per month to keep their government afloat while all this destruction is going on. And anyone who thinks this is INSANE must be a “tool of Putin”.
I’m in for contributing the amount necessary for one bullet – as long as someone puts it in Zelensky’s head.
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