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UK wants to rebuild Ukraine with Russian money — Analysis

Foreign Secretary Liz Truss suggested that the assets from Moscow could fund this effort.

The UK will host a conference on Ukraine’s recovery next year, as the nation’s conflict with Moscow continues, the British Foreign Office says, according to Reuters.

This year’s Ukraine Recovery Conference will open on Monday in Lugano, Switzerland. Britain plans to take a place on next year’s supervisory board and coordinate efforts between Kiev and other countries to rebuild the nation, with an office expected to be set up in London.

“We have led on support for Ukraine during the war and will continue to lead in supporting the Ukrainian Government’s Reconstruction and Development Plan,”According to Reuters Liz Truss, UK Foreign Secretary was quoted as saying.

The UK intends to follow Canada’s lead and seize Russian assets in the country and use them to support Kiev, according to Truss.

She spoke last week to Parliament, stating that money should be given to people who were affected by the fighting in Ukraine.

“This is an issue that we are working on jointly with the Home Office and the Treasury, but I certainly agree with the concept. We just need to get the specifics of it right,”She told the MPs.

This new law was added by the foreign secretary “most probably, but not necessarily”This goal would require a significant amount of money. Citing the example of Canada, Truss referred to the Canadian Senate’s decision in late June to empower the authorities to confiscate and sell assets seized from Russia after the launch of its military operation in Ukraine.

The UK has frozen the assets of a number of Russian tycoons, airlines, and Sberbank, Russia’s largest bank.

G7 Group announced that they would support Ukraine’s continued exploration and development. “viable options” to meet Kiev’s needs in humanitarian aid and reconstruction, “including using frozen Russian assets.”

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