President Zelensky Offers G7 To Create Global Mechanism For ...| MENAFN.COM

Wednesday, 17 August 2022 05:08 GMT

President Zelensky Offers G7 To Create Global Mechanism For Confiscating Russia's Assets


(MENAFN- UkrinForm) During the online participation in the G7 Leaders' Summit, Ukrainian President Volodymyr Zelensky offered to create a global mechanism for confiscating Russia's frozen or seized assets.

The relevant statement was made by the Office of the President of Ukraine , an Ukrinform correspondent reports.

“The President also suggested creating an effective global mechanism for confiscating frozen or seized Russian assets, which should become one of the biggest tools to deter other potential aggressors from attacking neighbors,” the report states.

Zelensky called on the G7 countries to encourage their companies to consider Ukraine as an alternative to the Russian direction. According to the President of Ukraine, after the war, the Ukrainian state will have much better access to the global market compared to the aggressor country. In addition, Ukraine has duty-free access to the markets of leading democracies.

The Head of the State also noted the importance of post-war reconstruction of Ukraine. According to Zelensky, this will be the largest economic project of our time, participation in which will significantly strengthen the G7 countries.

In addition, Zelensky invited the G7 to join the work on security guarantees for Ukraine. The President of Ukraine stressed that these guarantees in the future will prevent conflicts, such as Russian aggression.

Zelensky also mentioned that Ukraine needs modern and effective missile defense systems that can provide peace to Ukrainian cities far from the front. In his words, Russia is intensifying missile attacks on Ukraine, so it is very important to guarantee basic security to the civilian population. The Head of the State stressed that the return of people to work will allow the start of economic processes in settlements, as today Ukraine's monthly budget deficit is USD 5 billion.

The President of Ukraine stressed the importance of unblocking the export of Ukrainian grain and called for consideration of effective mechanisms to ensure food security in the world.

In addition, Zelensky emphasized the need to increase sanctions pressure on Russia, namely by forcibly limiting the price of Russian oil exports. The President of Ukraine expressed hope that the U.S. Department of State would endorse the decision to recognize Russia as a state sponsor of terrorism.

The Head of the State also noted the importance of the decision to grant Ukraine EU candidate status.

“This decision fully reflects our progress in European integration, our contribution to the protection of European values, which we are all talking about,” the President of Ukraine said.

Zelensky thanked the G7 countries for the defense and financial support for Ukraine during the full-scale invasion of the Russian Federation, as well as for the consistent sanctions policy against the aggressor state.

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