€3B assets package ‘almost nothing,’ Ukrainian minister says

“If we are talking about the needs of Ukraine and the needs of the war, military and non-military, €3 billion is actually almost nothing— we need hundreds of billions in order to win the war,” Maliuska told POLITICO at the G7 justice ministers’ meeting in Venice on Thursday.

“It’s a good first step,” he said.

Since Moscow launched its full-scale invasion of Ukraine in February 2022, the EU has immobilized more than €200 billion of Russian state assets to help Kyiv’s reconstruction efforts.

“The Ukrainian government really would like to get full confiscation [of Russian assets] and really believe this is lawful and this is the only approach which will be decisive in terms of the resolution of the war [with Russia],” he added.

In February, EU leaders agreed on an additional €50 billion support package for Ukraine within the bloc’s budget, with European Council President Charles Michel saying: “This locks in steadfast, long-term, predictable funding for Ukraine.”