'Unthinkable' that Russia does not pay for Ukraine's reconstruction, EU chief says

European Commission President Ursula von der Leyen said Saturday it would beryllium "unthinkable" for Russia not to wage for Ukraine's reconstruction.

The EU main told CNBC that she was "disappointed" by a determination that Swiss authorities took past week against utilizing seized Russian assets to assistance with Ukraine's post-war reconstruction. She insisted that Moscow would beryllium held financially accountable for the demolition inflicted connected its neighbor.

"It's unthinkable that, successful the precise end, the planetary assemblage volition reconstruct Ukraine, and Russia does not contribute. This is not thinkable," she told Hadley Gamble astatine the Munich Security Conference.

Swiss authorities connected Wednesday ruled that it was unconstitutional to permanently confiscate the assets of sanctioned Russians held wrong the country.

Until now, Bern has moved successful lockstep with the EU successful freezing the assets of high-profile Russians connected to President Vladimir Putin. It presently holds immoderate 7.5 cardinal Swiss francs ($8.1 billion) successful frozen assets.

Von der Leyen described the ruling arsenic putting concern interests up of governmental justice. Asked if she was disappointed by the decision, she was unequivocal.

"Yes, I was disappointed," she said. "I deliberation this is simply a hard prime to enactment the concern exemplary astatine archetypal place, because, indeed, we person to person the governmental volition that the perpetrator has to wage besides for the reconstruction of Ukraine."

Von der Leyen is portion of a increasing chorus of EU leaders who person called for caller ways to marque it easier to confiscate Russian assets and usage them towards Ukraine's reconstruction. It has been projected that specified funds could travel from assets seized from either Russian oligarchs oregon the Russian cardinal bank.

Von der Leyen said procedures are nether mode wrong the EU to found a tribunal process to guarantee that Russia is held accountable for its actions successful Ukraine. It comes arsenic the warfare enters its 2nd year.

"He has to beryllium held accountable for the warfare crimes," the European Commission president said of Putin.

Russia past twelvemonth said cardinal slope sanctions imposed by the EU and its allies had frozen astir $300 cardinal retired of its overseas speech reserves.

The IMF has estimated that Ukraine volition necessitate successful excess of $40 cardinal successful fiscal enactment successful 2023 alone.

IMF Managing Director Kristalina Georgieva told CNBC earlier Saturday that a fully-fledged enactment bundle for Ukraine is just "weeks" away. The agreement, archetypal announced Friday, paves the mode for talks connected a afloat indebtedness programme that would enactment Kyiv's system and further its bid to articulation the European Union.