Are we on the brink of WWIII?
Russia has been waging genocidal war against Ukraine since 2014. It’s the biggest war in Europe since World War II, which the Russian Federation launched with the support of Belarus, Iran, and North Korea. Since October 2024, North Korean troops have joined Russia on a battlefield.
It’s no longer Russia vs Ukraine war. It’s the new “Axis of Evil” vs Democratic world war. And if you don’t want it to turn into World War III, help Ukraine stop Russia at your doorstep!
How can we hold Russia accountable?
One way to do it is to stop the Russian war machine and make Russia pay for all the damage and destruction done to Ukraine.
Is there a way to make Russia pay?
YES! Since the beginning of the full-scale war, Western countries have immobilized about half of the foreign exchange reserves of the Central Bank of Russia, which is almost $300 billion worth. The absolute majority of these funds are held in the G7 countries and, especially, the European Union. Transferring confiscated Russian assets to Ukraine will be the first step towards future reparations from Russia.
Why haven’t these funds been transferred to Ukraine?
It’s a long and complicated process. In 2024, the G7 members agreed on provision of the $50 billion loans to Ukraine backed by the windfall profits from the immobilized Russian assets. It is planned that Ukraine receives this loan in tranches over two years: starting in December of 2024 and until the end of 2027.
This step is the significant breakthrough which at least made Russian assets work for financing Ukrainian needs. Yet, it does not make Russia really pay for its aggression and bear responsibility, moreover, it’s still not enough to cover Ukraine’s military needs for another year of war.
What is a long-term solution?
War tax on Russian energy resources. It will help allies find new sources of financial assistance to Ukraine and bleed out the Russian war machine. Read more about this mechanism here.
Who are we?
We are ICUV — International Centre for Ukrainian Victory. We are civil society leaders advocating internationally for everything Ukraine needs to win the war with Russia.