The European Council stated on October 17 that frozen Russian assets should be “immobilized” until Moscow ends the full-scale war against Ukraine and pays reparations to the country.
The damage caused by Russian aggression to Ukrainian infrastructure over the last decade has been estimated in a variety of ways. In February 2024, the World Bank estimated that it could reach $486 billion.
The European countries control about two-thirds the $300 billion in Russian sovereign assets that were immobilized following the outbreak of a full-scale conflict. The EU was reluctant to confiscate assets outright but devised a scheme to use windfall profits for Ukraine’s defense and reconstruction needs.
The European Council reiterated that it would adhere to “certain member states'” “security and defence policy” regarding the use generated from the frozen assets. It added that it would continue “to address all relevant legal and monetary aspects.”
The EU ambassadors had agreed in October to a plan for a 35 billion euro ($37.2 billion), loan to help Ukraine’s war-torned economy.
The agreement came after Hungary announced it would delay a major reform of sanctions until after the U.S. Presidential election on November 5.
The deal is part a larger G7 initiative that aims to provide EUR45 billion ($50billion) in aid to Kyiv. Kyiv is struggling to counter a new Russian offensive which has severely damaged its electrical infrastructure.
According to the G7 plan the profits from Russia’s assets that have been frozen will be used gradually to repay the multibillion-euro loans. EU officials have said that the 35 billion euro loan will be undesignated and “untargeted”, allowing Ukraine to spend the funds in any way it chooses. The EU plans to distribute the money as early as next year.
Ukraine’s Air Force reported that in addition to the 80 drones shot down throughout the country, 44 more were “lost.”
“Ready to welcome old friends and strengthen the close alliance we have as we stand united for freedom and against tyranny in the world,” wrote U.S. president Joe Biden on X.
This includes 1,530 casualties that Russian forces have suffered in the last day.
The Krakow District Court began the trial of two Russians, Andrei G. & AlekseiT. They were allegedly hired to distribute flyers to Krakow, Poland, encouraging people to join this organization.
Denys Shmyhal, the Ukrainian Prime Minister, addressed the annual Ukraine Mine Action Conference held in Switzerland on October 17, and urged the international community for increased support to demining efforts.
According to the Norwegian Ministry of Foreign Affairs, Norway has increased its overall support for Ukraine’s Energy Sector to 3 billion Kroner (around 274.2 million dollars) as part of a broader aid program.
Viktor Orban, the Hungarian prime minister, wrote that “what (Zelensky), outlined yesterday in Ukraine’s parliament is more than frightening,” and urged EU leaders to begin talks with Moscow as soon as possible.
In an interview with The Washington Post on October 17, Trump blamed the U.S., Ukraine and other leaders for the war. He did not mention Russian President Vladimir Putin.
“We refute the insinuations made by unnamed sources, in the Bild magazine, regarding Ukraine’s alleged plan to develop weapons or mass destruction.”
The change could delay the Ukrainian squadron’s readiness for the battlefield by several months.
“We never talked about…that we were preparing to create nukes or something like that,” said President Volodymyr Zelensky.
Ukrainska Pravda, citing reliable sources, reported that the person in question was Iryna Alakhverdiieva, from the Servant of the People Party of President Volodymyr Zelensky.
The Office of Foreign Assets Control of the U.S. Treasury Department said that the two Chinese companies, Limbach and Redlepus, have been working together with IEMZ Kupol – a subsidiary of Almaz-Antey – a Kremlin-owned arms company – to create drones.
Volodymyr Zelensky, President of Ukraine, wrote on X that Greece is ready to continue to meet Ukraine’s most urgent defence needs.
“Either Ukraine has nuclear weapons that will protect it, or they must be a part of an alliance.” “We do not know any other alliance that is as effective as NATO,” Volodymyr Zelensky told Republican presidential candidate Donald Trump.
The legislation approved by the parliament in December was pushed through under pressure from Western partners as well as Ukrainian business associations. The reform is a necessary step towards Kyiv’s EU accession.
According to military intelligence, North Korean officials are already in the occupied territory of Ukraine.
“There will not be a war like the one of 1953.” I’m talking about the Korean War. It ended in summer of 2023 in Ukraine when two professional armies with more than a half million personnel each faced off on the battlefield,” said Valerii Zaluzhnyi. He is currently the ambassador to the U.K. and former commander-in chief of Ukraine.
In response to a Kyiv Independent journalist, the Ukrainian ambassador to the U.K. Valerii Zaluzhyni stated that Ukraine needed to change its approach to mobilisation because it still carries Soviet influences. However, much more time was required for a reform to be completed, he said.
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