Nobel laureates call for frozen Russian assets to be directed towards Ukraine’s reconstruction

Over 120 Nobel laureates have called for the Central Bank of the Russian Federation’s frozen foreign assets to be directed towards the reconstruction of Ukraine and compensation for the victims of the Russo-Ukrainian war, as stated in a corresponding declaration published by the independent online media outlet Voxeurop.

Source: Voxeurop

“February 24, 2025, marked the beginning of the fourth year of the illegal war of aggression waged by the Russian Federation against Ukraine […]. The hostilities have claimed the lives of tens of thousands of soldiers and left many seriously wounded on both sides. However, it is also directly aimed at the Ukrainian civilian population – families and their children – who have suffered immeasurable pain,” the document states.

As a result of Russian aggression, thousands of civilians have been killed, remain under occupation, are imprisoned, or have been forcibly deported to Russia. The destruction of entire neighbourhoods and cities, attacks on critical infrastructure, including hospitals, schools, and kindergartens, have forced many people to flee, leaving behind their homes and livelihoods.

At the same time, Russia’s war against Ukraine has caused the largest refugee crisis in Europe since World War II.

The statement’s signatories recalled that approximately 300 billion euros of the Russian Central Bank’s global capital has been frozen due to sanctions. This sum is held in accounts around the world, but predominantly in EU and G7 countries: Belgium, Canada, France, Germany, Italy, Japan, the United States, and the United Kingdom.

After the war, the reconstruction of Ukraine and reparations to the victims of the war will require significant financial resources, and who, if not the perpetrator of this illegal war, should bear responsibility for restitution, the statement reads.

The Nobel laureates called on the governments of countries where the Central Bank’s funds are held to allocate these funds to finance Ukraine’s recovery and compensate war victims.

Earlier, ZMINA reported that the total damage from the full-scale Russian invasion of Ukraine has reached $176 billion, and it increased by $24 billion last year alone.