The United States and European countries announced billions of dollars in new recovery assistance to Ukraine on Wednesday aimed at addressing the staggering destruction in the war-torn country caused by Russia’s invasion.
LONDON — The United States and European countries announced billions of dollars in new recovery assistance to Ukraine on Wednesday aimed at addressing the staggering destruction caused by Russia’s invasion.The pledges, made at a two-day gathering of world leaders in London, added to the already unprecedented outpouring of Western support for Ukraine. But they amounted to only a fraction of the $411 billion that the World Bank estimates is needed to rebuild the country.
While the West has sought to reassure Ukraine that the country will be rebuilt and that Russia will be forced to pay compensation, the war — and the destruction of the country — continue on a daily basis. It is unclear when Ukraine will be able to start large-scale reconstruction without risk that the money will be wasted, and so far there are no clear legal mechanisms to seize Russian funds.
London, a longtime haven for Russian oligarchs’ wealth, has faced pressure to revise its laws to allow those assets to be seized to fund Ukraine’s recovery. A senior aid to Ukrainian President Volodymyr Zelensky said the United Kingdom should confiscate the mansions, country estates and Britain-based assets to help pay for the reconstruction.“It must be Russia which is held accountable and must pay,” Vladyslav Vlasiuk, a sanctions expert working for Zelensky,British media this week.
Blinken flew to London from Beijing, where he met Chinese President Xi Jinping after two days of talks he described as “candid, substantive and constructive.”Blinken said he welcomed China’s involvement in negotiating an end to the war in Ukraine — a prospect that has fueled speculation about China playing a role in Ukraine’s reconstruction, given its massive capacity to finance and oversee infrastructure projects.
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