Member of European Parliament Vlad Gheorghe: EU Should Increase Aid to Kyiv by Confiscating Russian Assets

Currently, the European Union is the major contributor to the rebuilding of infrastructure in Ukraine, destroyed and damaged as a result of Russian aggression. The EU can now increase its capacity to help Kyiv by confiscating the assets of Russian oligarchs and those who violate EU sanctions against Russia.

This opinion was expressed by MEP Vlad Gheorghe, the rapporteur for opinion within the European Parliament Committee on Budgets for the directive on asset recovery and confiscation.

“I have been to Bucha and Irpin and I have seen the level of devastation in Ukraine. You truly understand it when you walk through the rubble that here, once stood a home, an office building, a school, a maternity, a theatre, a bridge… The reconstruction costs in Ukraine approach 400 billion euros today, one year after the start of atrocious and unjustified war which Putin wages against Ukrainians. Considering that the EU remains the major contributor to the rebuilding of infrastructure in Ukraine, we should increase our capacity to help Kyiv by confiscating the assets of those who violate EU sanctions against Russia and those who are engaged in Russia’s aggression against Ukraine. Russia must pay and it will pay!” the politician stressed.

After Gheorghe’s report, the European Parliament Committee on Budgets (BUDG) by a majority of votes supported the idea of expanding the scope of the proposal regarding the directive on asset recovery and confiscation over Russian aggression against Ukraine and circumvention of sanctions against the Russian Federation.

In particular, the Renew Europe liberal pro-European political group in the European Parliament supports and considers it appropriate to channel such funds into the restoration of Ukraine.

As a reminder, over the past year, almost EUR 20 billion has been seized from persons under EU sanctions.

Bohdan Marusyak