Czech Republic supports freezing all Russian state assets

Jan Lipavský
Jan Lipavský

The Czech government has moved to freeze all Russian state assets in the Czech Republic, Foreign Minister Jan Lipavsky said in a Twitter post on Nov. 15.

"At my suggestion, the government today approved the freezing of Russian state assets in the Czech Republic," said Lipavsky.

Read also: Russia calls G7 decision to use Russian assets a ‘self-inflicted gunshot’ and threatens retaliation

“The commercial activities from which Russia finances the murder of Ukrainians ends here.”

On Oct. 13, G7 countries froze $280 billion in Russian assets and have pledged to hold them until Russia war reparations to Ukraine.

Read also: US reconstruction expert on rebuilding Ukraine, and how to avoid corruption – interview

On Nov. 8, the U.S. House Committee on Foreign Affairs approved a bill to direct frozen Russian assets towards Ukraine aid.

U.S. Secretary of State Antony Blinken has stated that his country, together with the European Union, is assessing legal authority to direct $300 billion in frozen Russian assets toward rebuilding Ukraine and other needs.

Read also: Finland backs use of frozen Russian assets to aid Ukraine

On Oct. 11, Belgian PM Alexander De Croo held a joint press conference with Ukrainian President Volodymyr Zelenskyy, during which he announced plans to create a special fund to support Ukraine, amounting to EUR 1.7 billion this year.

Funds for this initiative will come from frozen Russian assets in Belgium. Zelenskyy noted that Belgium would be the first country to use Russian assets to support Ukraine.

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