EU's Kallas urges $300B in Russian assets for Ukraine recovery

The European Union should direct $300 billion in frozen Russian assets to fund Ukraine's recovery from the war, said Kaja Kallas, the candidate for the EU's top foreign policy role and the former Estonian prime minister, according to Bloomberg.

The former Estonian prime minister urged EU countries to dismiss concerns about seizing the assets, emphasizing Ukraine's "legitimate claim" to the funds following Russia's aggression.

"I will not use the word confiscation, because it’s really using the assets in a legal way," Kallas told European Parliament lawmakers during confirmation hearings in Brussels on Tuesday, November 12.

Kallas's candidacy requires parliamentary approval before she can succeed Josep Borrell. The election is scheduled for the plenary session on November 25-28 in Strasbourg.

"We recognize that Russia has a legitimate claim toward us, because we have their assets. But Ukraine also has a legitimate claim toward Russia because, every day, they are destroying Ukraine," Kallas said.

She suggested Russia could reclaim its assets as part of a settlement but added, "I doubt, considering what is going on, that there is anything left over."

To taxpayers demanding EU member states financing Ukraine's recovery, she responded, "We shouldn't. Those who are destroying Ukraine are paying for it."

Kallas added that Estonia's initiative to direct 0.25% of its gross domestic product to Ukraine should be adopted by other EU member states.

Furthermore, she proposed that EU sanctions against Russia remain indefinite until all 27 member states agree to lift them, rather than requiring renewal every six months.

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