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EU Weighs Tapping Seized Oligarch Assets for Ukraine Rebuilding

  • Scale of effort requires joint new issuance, draft says
  • Ukraine reconstruction may cost $1.1 trillion, Kuleba tells EU
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The European Union will propose issuing joint debt and explore using proceeds from assets that were seized from sanctioned oligarchs to fund the reconstruction of Ukraine.

The European Commission considers the scale of what will be required to be beyond the bloc’s capacity, and will propose on Wednesday to also use fresh grants coming from member states and third countries, according to a draft proposal of the EU’s plan seen by Bloomberg.