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EU debates tapping sanctions-hit Russian assets to pay for rebuilding Ukraine

Seizing oligarchs’ property or central bank funds would be complex but Italian anti-mafia laws may offer model

Poland wants EU allies to agree new powers making it easier for sanctions-hit Russian assets to be seized and sold, as member states contemplate the vast costs of rebuilding Ukraine after the war.

Warsaw says the property of Russian oligarchs hit by sanctions, as well as the hundreds of billions of euros of Russia’s central bank reserves frozen by western powers, should be available to help pay for reconstruction.

“The most basic principle is that Russia started this war, and so they need to pay for it,” Pawel Jablonski, Poland’s deputy foreign minister, told the Financial Times.

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