Baltics and Slovakia call for the reconstruction of Ukraine at the expense of the aggressor and its supporters at ECOFIN meeting

• Published date: 24 May 2022
• Publication title: LETA

RIGA, May 24 (LETA) - At the ECOFIN meeting in Brussels on Tuesday, Latvia, Lithuania, Estonia and Slovakia urged the confiscation of frozen assets belonging to sanctioned Russians to be used for the reconstruction of Ukraine, representatives of the Ministry of Finance (FM) told LETA.

statement from the four Member States states that active warfare has led to a drastic decline, cessation or destruction of production and agriculture in Ukraine, and a declining tax revenue. The situation is exacerbated by large-scale misappropriation of assets and export goods by Russia, as well as significant infrastructure damage. As a result, the state's ability to ensure the continuous operation of public services and the provision of social services has been reduced to a minimum.

The International Monetary Fund estimates that Ukraine's current account deficit will reach around EUR 14.3 billion by June. Reconstruction of Ukraine after the war will also require...