According to European Commission President Ursula von der Leyen, the European Union is planning to use the frozen assets of Russian oligarchs to fund the reconstruction of Ukraine right after the war.
The commission suggested a 9 billion euro loan to Ukraine on Wednesday to keep the country afloat as it fights the Russian invasion and seeks to establish a reconstruction facility after the war.
“Our lawyers are working intensively on finding possible ways of using frozen assligarchs for the rebuilding of Ukraine. I think Russia should also make its contribution,” she told ZDF television.
Von der Leyen also advocated for tying Ukraine’s long-term rehabilitation to the reforms required for it to join the European Union.
While Ukrainians see their future in the EU, certain criteria must be met for membership, including the rule of law, economics, and politics, she explained.
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“The accession process depends a lot on how the candidate behaves and what it does. Ukraine wants to join the EU at any price which means the motivation is great to undertake the reforms that are needed,” she said.
“We will have to co-finance the reconstruction of Ukraine … it makes sense to tackle reforms at the same time, for example against corruption or building up the rule of law,” she said.