According to Bloomberg, the US and the EU are close to a decision to release $50bn of frozen Russian assets to Ukraine

Previously, this decision was contingent on the US demanding that the EU strengthen its sanctions legislation against Russia. This is aimed at providing a reliable legal mechanism for the confiscation and transfer of Russian assets to support Ukraine.

However, when and how will Ukraine be able to receive these funds? These questions were answered by Tetyana Khutor, Chair of the Institute of Legislative Ideas, in an interview with Ukrainian Radio.

First of all, she noted that the process of allocating $50 billion is influenced by the political situation in the partner countries. In particular, in the United States, it is the current presidential campaign, which slows down decision-making. However, the US inhibition has had a significant impact on the EU's activities in this regard.

‘This has pushed the EU to take more active steps, including increasing the amount of money that European partners are ready to add to the $50 billion promised to Ukraine,’ said Tetyana Khutor.

Tetyana Khutor also stressed the importance of the Joint Declaration on Assistance to Ukraine's Recovery, which was supported by the G7 countries, the EU and other states. This declaration confirms the intention of the international community to continue supporting Ukraine in the face of a full-scale war and to prepare the ground for future reconstruction. According to her, there is a real possibility to complete the organisational and procedural stages of transferring frozen assets by the end of this year.

Read more on the air of Ukrainian Radio