EU Says Russia Must Pay for Ukraine Reconstruction

EU foreign policy chief Josep Borrell. EPA
EU foreign policy chief Josep Borrell. EPA
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EU Says Russia Must Pay for Ukraine Reconstruction

EU foreign policy chief Josep Borrell. EPA
EU foreign policy chief Josep Borrell. EPA

EU foreign policy chief Josep Borrell said at regional security talks Thursday that he planned to discuss with his counterparts any available legal means to ensure that Russia pay for the reconstruction of war-torn Ukraine.

Borrell spoke at the start of this year's two-day ministerial conference of the Organization for Security and Co-operation in Europe (OSCE) in the central Polish city of Lodz.

"I will meet with my colleague foreign ministers today... We will explore all legal possibilities to make sure that Russia will pay for the destruction it's causing in Ukraine," Borrell told reporters.

According to AFP, he recalled that the EU has frozen Russian assets worth nearly 20 billion euros since Moscow invaded Ukraine, and that Western sanctions have also led to the freezing of 300 billion euros of Central Bank of Russia foreign exchange reserves around the world.

"These reserves are blocked. But from being blocked to being seized is a strong difference," Borrell said.

"And there are legal procedures that have to be studied. But our proposal is on the table... Russia has to pay for the reconstruction of Ukraine."

Poland is hosting this year's ministerial conference as the country currently holds the rotating chairmanship of the OSCE, whose members include both Russia and Ukraine.

Warsaw refused to allow Russian Foreign Minister Sergei Lavrov, under European sanctions, into Poland for the conference, triggering an angry response from Moscow.

Russia's delegation at the conference is instead being led by its permanent representative to the OSCE Alexander Lukashevich.

"The West is doing exactly what the OSCE was created to counter –- it is creating dividing lines," Lavrov told reporters on Thursday.

He added that "our Polish neighbors have been diligently digging the grave for this organization all year, destroying the remnants of the culture of consensus."



African Nations Seek to Connect 300 mln People to Power by 2030

Delegates attend the Africa Energy Summit in Dar es Salaam, Tanzania January 27, 2025. REUTERS/Emmanuel Herman
Delegates attend the Africa Energy Summit in Dar es Salaam, Tanzania January 27, 2025. REUTERS/Emmanuel Herman
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African Nations Seek to Connect 300 mln People to Power by 2030

Delegates attend the Africa Energy Summit in Dar es Salaam, Tanzania January 27, 2025. REUTERS/Emmanuel Herman
Delegates attend the Africa Energy Summit in Dar es Salaam, Tanzania January 27, 2025. REUTERS/Emmanuel Herman

Several African nations committed on Monday to open up their electricity sectors to attract investors and light up homes of 300 million people currently lacking power in the next six years.

The continent has the highest number of people without access to electricity globally and is racing to connect homes to power by 2030 under a plan dubbed "Mission 300" launched by the World Bank and the African Development Bank (AfDB) in April.

The push aims to unlock at least $90 billion in capital from multilateral development banks, development agencies, finance institutions, private businesses and philanthropies, according to the Rockefeller Foundation, which is part of the initiative, Reuters reported.

"We want to expand and rehabilitate our electricity grids using the least cost possible," said Kevin Kariuki, vice president for infrastructure at the AfDB during an energy summit of African heads of state in Tanzania's commercial capital.

Nigeria, Senegal, Zambia and Tanzania were among a dozen countries that committed to reform their electricity utility companies, push renewable energy integration and raise national electricity connection targets.

Multilateral development banks and commercial banks represented at the summit will use the country's commitments to persuade their clients to invest in Africa's energy sectors, said World Bank President Ajay Banga.

Providing 300 million people with access to electricity, half of those currently without power on the continent, is a crucial building block for boosting Africa's development by creating new jobs, Banga said.

The World Bank expects to spend $30-40 billion on the plan, Banga said, while the AfDB will provide $10-15 billion, and the rest will come from private investors and other sources.

"The World Bank will pay countries as part of our support only when they make the (regulatory and policy) changes," Banga said.

Private capital has in the past blamed unfriendly regulations, red tape and currency risks for making investments in Africa's electricity sector hard.

Half of the targeted new connections will get electricity from existing national grids, the World Bank and the AfDB said, while the other half will be from renewable energy sources, including wind and solar mini-grids.