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Reuters
Reuters
Business

EU should seize Russian reserves to rebuild Ukraine, Borrell says -FT

FILE PHOTO: High Representative of the European Union for Foreign Affairs and Security Policy Josep Borrell speaks during a news conference after attending a meeting with foreign ministers from Central America and the Caribbean, amid Russian invasion in Ukraine, in Panama City, Panama May 3, 2022. REUTERS/Erick Marciscano

The European Union should consider seizing frozen Russian foreign exchange reserves to help pay for the cost of rebuilding Ukraine after the war, the bloc's foreign policy chief, Josep Borrell, said in an interview with the Financial Times.

The EU and its western allies have put curbs on the Russian central bank's international reserves since the country began its invasion of Ukraine, actions Moscow describes as a "special military operation".

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