Zelensky presses EU leaders to hand over frozen Russian asset funds for Ukraine's recovery: ‘Use them to save lives'
'Europe should clearly agree that frozen Russian assets should go towards Ukraine's recovery,' he said.
'Not only the income from these assets, but the assets themselves must be used — and much more actively than they are now — to help save lives.'
The President opened his address by referencing yet another overnight assault on Kyiv, describing ongoing Russian drone attacks on civilian areas as a campaign of terror.
'Just last night, they launched another massive attack on Ukraine, mainly targeting our capital Kyiv,' Zelensky said.
'This is pure terrorism… This is exactly what Putin wants — for our people to suffer, to flee Ukraine, and for homes, schools, for life itself to be destroyed everywhere, not just near the frontlines.'
Zelensky kicked off the Ukraine Recovery Conference with a direct appeal to international leaders, urging them to unite in a sweeping reconstruction initiative.
'We should develop it together,' Zelensky told participants, emphasising that rebuilding Ukraine is not simply a charitable act. 'It's also about your countries, your companies, technology, your jobs. The way we rebuild our country can also modernise your infrastructure and industries.'
Addressing Russia's messaging around peace negotiations, Zelensky dismissed Moscow's statements as disinformation.
'Putin has rejected every peace proposal and is escalating the violence,' he stated. 'I urge all our partners: increase your investments when Russia increases its attacks.'
Zelensky made clear that only nations aligned with Ukraine's cause would be included in its recovery efforts.
'Only friends are invited to be a part of Ukraine's economic and technological recovery,' he declared.
'Not those who are helping Russia continue this war.'
Thanking international allies for their ongoing support, Zelensky hailed Ukraine's rapid military modernisation.
'We've done it in record time. No other country has switched from Soviet aircraft to F-16s and Mirages this quickly,' he said.
He also called for increased support to bolster Ukraine's air defense systems.
Zelensky also raised the humanitarian crisis of Ukrainian children abducted by Russian forces during the conflict.
'We must explore every possible way to bring our children back home to their families, to Ukraine, so they don't forget who they are.'
The two-day Ukraine Recovery Conference comes as Ukraine enters the fourth year of full-scale war since Russia's 2022 invasion. The gathering aims to galvanize global support and long-term economic investment as Ukraine looks to rebuild infrastructure, strengthen security, and restore civilian life.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Indian Express
a minute ago
- New Indian Express
Ukrainian drone attack sparks massive fire at Russian oil depot near Sochi
MOSCOW: An overnight Ukrainian drone attack on an oil depot near Russia's Black Sea resort of Sochi sparked a major fire, Russian officials said Sunday, as the two countries traded strikes. More than 120 firefighters attempted to extinguish the blaze, sparked after debris from a downed drone struck a fuel tank, Krasnodar regional Gov. Veniamin Kondratyev said on Telegram. Videos on social media appeared to show huge pillars of smoke billowing above the oil depot. Russia's civil aviation authority, Rosaviatsia, temporarily stopped flights at Sochi's airport. Further north, authorities in the Voronezh region reported that four people were wounded in another Ukrainian drone strike. Russia's Defense Ministry said its air defenses shot down 93 Ukrainian drones over Russia and the Black Sea overnight into Sunday.
&w=3840&q=100)
Business Standard
a minute ago
- Business Standard
Ukrainian drone strike sparks major fire at Russian oil depot near Sochi
An overnight Ukrainian drone attack on an oil depot near Russia's Black Sea resort of Sochi sparked a major fire, Russian officials said Sunday, as the two countries traded strikes. More than 120 firefighters attempted to extinguish the blaze, sparked after debris from a downed drone struck a fuel tank, Krasnodar regional Gov Veniamin Kondratyev said on Telegram. Videos on social media appeared to show huge pillars of smoke billowing above the oil depot. Russia's civil aviation authority, Rosaviatsia, temporarily stopped flights at Sochi's airport. Further north, authorities in the Voronezh region reported that four people were wounded in another Ukrainian drone strike. Russia's Defence Ministry said its air defences shot down 93 Ukrainian drones over Russia and the Black Sea overnight into Sunday. Meanwhile, in southern Ukraine, a Russian missile strike hit a residential area in the city of Mykolaiv, according to the State Emergency Services, wounding seven people. The Ukrainian air force said Sunday Russia launched 76 drones and seven missiles against Ukraine. It said 60 drones and one missile were intercepted, but 16 others and six missiles hit targets across eight locations. The reciprocal attacks came at the end of one of the deadliest weeks in Ukraine in recent months, after a Russian drone and missile attack on Thursday killed 31 people, including five children, and wounded over 150. The continued attacks come after US President Donald Trump gave on Tuesday Russian President Vladimir Putin a shorter deadline Aug. 8 for peace efforts to make progress. Trump said Thursday that special envoy Steve Witkoff is heading to Russia to push Moscow to agree to a ceasefire in its war with Ukraine and has threatened new economic sanctions if progress is not made.
Mint
a minute ago
- Mint
Why India may not stop buying Russian oil amid US tariff threat: Explained
In a major setback for India, US President Donald Trump announced Thursday a 25% tariff on the import of Indian goods and an additional "penalty" for buying the "vast majority of their military equipment from Russia." Trump said India is Russia's "largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE — ALL THINGS NOT GOOD!". He also cited "massive trade deficit with India" as the reason behind the high tariff rate of 25%. He added that US has 'done very little business with India, their Tariffs are too high, among the highest in the World.' But a day later, the US President informed that tariff talks with India are still on, raising hope of a respite. "I understand that India is no longer going to be buying oil from Russia. That's what I have heard. I don't know if that's right or not. That is a good step. We will see what happens...," he said on Thursday. There has been no official indication yet if India will stop buying oil from Russia. However, Indian government sources told Reuters on Saturday that India will keep purchasing oil from Russia, and there would be no immediate changes. Not giving in to Trump's pressure, these sources cited the following reasons for buying oil from Russia: 1. "These are long-term oil contracts," one of the sources said. "It is not so simple to just stop buying overnight," they added. 2. Justifying India's oil purchases from Russia, a second source said India's imports of Russian grades had helped avoid a global surge in oil prices, which have remained subdued despite Western curbs on the Russian oil sector. 3. "Unlike Iranian and Venezuelan oil, Russian crude is not subject to direct sanctions, and India is buying it below the current price cap fixed by the European Union," the source said. 4. Meanwhile, sources told news agency ANI that India's energy decisions have been guided by national interest but have also contributed positively to global energy stability. "India's purchases have remained fully legitimate and within the framework of international norms,' they added. 5. These sources said, 'Had India not absorbed discounted Russian crude combined with OPEC production cuts of 5.86 mb/d, global oil prices could have surged well beyond the March 2022 peak of US$137/bbl, intensifying inflationary pressures worldwide.' 6. Meanwhile, Randhir Jaiswal, the official spokesperson of the Ministry of External Affairs, said on August 1 shed light on India's energy sourcing requirements. "You are aware of our broad approach that we look at what is there available in the markets, what is there on offer, and also what is the prevailing global situation or circumstances," he said. India is the second-largest importer of Russian oil after China. According to the New York Times, Russia is currently the source of more than one-third of India's oil imports, up from less than 1 percent before the war. The NITI Aayog's April-June (q1 FY2025) report revealed that in Q1 FY25, India recorded significant y-o-y import growth with Russia (19.69%). India imported about 1.75 million barrels per day of Russian oil from January to June in 2025, up 1 percent from a year ago, according to data provided to Reuters by sources. Meanwhile, Trading Economics cited the United Nations COMTRADE database on international trade as revealing that India's imports from Russia of crude oil was US$52.73 billion during 2024. In 2023, Russia was among the top trading partners of India. According to Trend Economy, Russia contributed 26% (58 billion US$) to India's imports (of "Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes). While India is among the top importers of Russia and China, the country is among the top exporters to the US. India remains a substantial exporter of refined petroleum products and other mineral fuels. "The primary destinations for these exports include the Netherlands, the United Arab Emirates, and the United States," Niti Aayog's report said. The USA is among the top importers of Indian goods, accounting for almost 33% of the total merchandise exports, according to NITI Aayog's report. It showed that the USA is India's top export destination in these categories: Minerals fuels & products, Natural or Cultured pearls, Electrical machinery & Equipment, Nuclear reactors, Pharmaceuticals products. NITI Aayog's April-June (q1 FY2025) report This contradicts Trump's 'little business with India' claim. The report also revealed that 'there is significant potential for Indian service exporters to expand their presence in major export markets such as the USA.' Tariffs are taxes imposed by a government (the US government in this case) on goods and services imported from other countries. They are simply an extra cost added to foreign products when they enter the country. Foreign goods get relatively more expensive, possibly driving up demand for domestic products. "Tariffs give a price advantage to locally produced goods over similar goods that are imported, and they raise revenues for governments," according to the World Trade Organization (WTO). However, some domestic industries may rely on imported materials and parts. In this case, the rise in prices of imported materials and parts would lead to face higher costs of production (by domestic producers). "If the domestic producers pass higher costs of production onto consumers, it will also push up prices of domestically produced goods," Oxford Economics explains. There's a possibility of lower export demand in the country (India) where the tariffs are imposed, since their goods have become relatively more expensive in the importing country (US).
