"We must not leave behind ruins": Zelenskyy speaks at G7+ meeting on rebuilding Ukraine. Video

The G7+ Ukraine meeting was held in New York. During the meeting, the European Union and more than 30 other countries adopted a Joint Declaration on Support for the Recovery and Reconstruction of Ukraine.

As explained by President of Ukraine Volodymyr Zelenskyy, this is a joint commitment of the countries, which provides for the coordination of relevant efforts through the Ukrainian Donor Platform. Thus, this support should become tangible this year.

"We must not leave behind ruins that will sow resentment and discontent after this war. This can only be achieved together. We are protecting people, and we are providing people with the opportunity to live," the Ukrainian leader said.

"And it is absolutely justified that those who are helping us to survive now will be the first to benefit from large-scale reconstruction," he emphasized.

According to the declaration, Ukraine will receive additional financial support worth about $50 billion by the end of the year. This is money received from frozen Russian assets.

"After the devastating World War II, the Allies introduced the Marshall Plan, which strengthened the peace and helped it to become truly lasting. Today, we are laying the foundation for a similar recovery architecture. One that will contribute to peace for Ukraine and the whole of Europe and to the common prosperity," Volodymyr Zelenskyy said.

The Joint Declaration on Support for the Recovery and Reconstruction of Ukraine is open for other countries to sign. It has several points. This includes "Russia's responsibility under international law to pay for the damage it has caused." Thanks to this clause, Russia's assets in the jurisdictions of the signatory countries "will remain immobilized until Russia stops its aggression and pays for the damage it has caused."

The second point is the economic assistance commitment. The item envisages improving the business climate, strengthening the fight against corruption, implementing justice system reform, and promoting the rule of law in the context of Ukraine's accession to the EU.

Separately, the declaration refers to the work on the implementation of the decision taken at the G7 summit in Puglia to provide Ukraine with additional loans worth $50 billion by the end of the year. These loans will be repaid from future proceeds from frozen Russian assets.

The declaration also mentions a separate "provision of specific bilateral support to Ukraine" by the signatory countries.

As reported by OBOZ.UA, earlier the European Commission proposed to freeze the assets of the Russian central bank in the G7 countries in the amount of more than $280 billion, which provides support for Ukraine through an indefinite freeze or for certain periods. These measures are intended to provide stability and predictability while increasing pressure on Russia to end the war and pay reparations.

Back in June, the G7 leaders agreed to a collective loan of $50 billion to Ukraine, backed by future proceeds from frozen Russian assets. But today, that plan is in limbo as the United States and Europe are still trying to agree on how to get the money. 

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