The ongoing war in Ukraine has caused immense destruction and suffering, with reports of massacres, attacks on civilian targets and the displacement of countless individuals. Recently, the European Union released an estimate of the total cost of these damages, which amounts to a staggering $600 billion. This includes damage to infrastructure, housing, hospitals and more. The EU also stated that Russia, which has been involved in the war, should be held responsible for these costs. While this may seem unlikely at present, the EU has pointed to Russian Central Bank reserves worth $300 billion and the $19 billion of frozen assets belonging to Russian oligarchs as potential sources of payment. . EU chief Ursula Von der Leyen stated, “We have the means to make Russia pay”.
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