There are new ideas into how to reconstruct Ukraine as the country buckles after nearly three months of war with Russia
The European Union is considering using the frozen assets of Russian oligarchs to rebuild the war-torn Ukraine.
The European Commission is pledging a €9 billion loan to Kyiv to keep the nation afloat as it defends itself against Russian forces.
European Commission president Ursula Von der Leyen spoke to ZDF television revealing that “lawyers are working intensively on finding possible ways of using frozen assets of the oligarchs for the rebuilding of Ukraine” proposing that Russia should also make its contribution.
She also assured that efforts will be put into helping Ukraine with reforms needed for it to join the European Union.
These include changes in rule of law and in the economic and political spheres particularly in battling corruption.
This comes only hours after Europe revealed its plan to reduce its dependence on Russian oil.
The EU sources around 40 per cent of their natural gas and 27 per cent of its imported oil from Russia paying Moscow approximately €400 billion per year.
Europe will begin to invest in pipelines in other countries and increase its reliance on greener energy sources.
The strategy announced in March aims on reducing Europe’s energy dependence on Russia by two thirds just this year.
This all comes amid rising energy costs as businesses deal with increasing financial pressures.
If all goes to plan the EU will have cut all energy ties with Russia by 2030.
