A senior Latvian official says Europe is still helping finance the missiles striking Ukraine, while billions in Russian funds remain blocked.
Russia’s frozen assets should be used to compensate for the damage Ukraine has suffered as a result of Russia’s war. At the same time, European Union countries should limit the financial flows to Russia that enable the Kremlin to continue funding its war effort.
Latvian Prime Minister Andris Kulbergs said this in Kyiv on August 24 following the Coalition of the Willing summit.
Frozen Russian assets should be used to rebuild Ukraine
Andris Kulbergs stressed that Russia must be held accountable for the destruction and losses caused by its full-scale invasion of Ukraine. In his view, the financial burden should not fall on EU citizens when Russian funds frozen abroad are available for this purpose.
I think Russia must start paying for these brutal attacks. And we must agree to use frozen Russian assets, rather than EU citizens’ money, to pay this bill. It is very high… There are actually €200 billion available that can be used to pay it.
– Andris Kulbergs
According to the Latvian prime minister, the consequences of Russian aggression have become a major challenge for Ukraine. International partners must ensure that the aggressor state bears the financial responsibility for the war.
Latvia calls for depriving Russia of revenue for war
Kulbergs also drew attention to Russia’s hybrid pressure on EU states. Among the Kremlin’s tools, he named illegal migration through Belarus, cyberattacks, attempts to destabilize European societies, and efforts to influence public sentiment.
The Latvian prime minister also raised the issue of Russia’s energy revenues. He believes that purchases of Russian energy resources provide Moscow with funds that are subsequently directed toward weapons production and the continuation of the war against Ukraine.
It is easy to do – we must not allow Russia to make money. Yet we are allowing it to make money to finance its war spending… Russian LNG is still being bought, gas supplies from Russia are still continuing, and the closure of the Strait of Hormuz provides an additional boost to Russia’s economy. All of this ultimately turns into missiles falling on Ukrainian soil. This is a bill that must be paid.
– Andris Kulbergs
Using frozen Russian assets to rebuild Ukraine and reducing Russia’s energy revenues are interconnected steps, according to Andris Kulbergs. They should weaken the Kremlin’s military capabilities and provide Ukraine with additional resources to overcome the consequences of the war.