How to Use Russian Wealth for Restoring Ukraine

All of us focused on the pandemic must also help get justice for Ukraine

The situation in Ukraine is obviously horrendous as endless videos of the devastation have shown.  Reuters reported: “The United Nations human rights office said on Thursday that at least 1,035 people have been killed and 1,650 wounded in one month of war in Ukraine.”  But this is just the tip of the whole criminal attack by Russia.  Odds are many more have died and been injured in the bombings of civilian buildings.

Add to this the millions escaping their homes in Ukraine and suffering as refugees in surrounding countries like Poland, Hungry and others.  Their lives, especially the millions of children, have been harmed beyond comprehension.

Putin is correctly seen by virtually everyone outside Russia, and even some inside it, as an evil warmonger committing war crimes every day.

A huge number of sanctions have wrecked the Russian economy, but this has not deterred Putin from continuing his unjustified war.  Nor has reportedly very high losses of his soldiers and military equipment.  So, now the big question that should be asked is this: What could be done to send a new, more impactful message to Putin?

And also do something to restore ravaged Ukraine.

Here is a simple idea on what the anti-Russian interests should immediately proclaim.

First, start using some of the Russian wealth confiscated to send money to those countries working very hard to house and host refugees from the Ukraine war, such as Poland.  They are being overwhelmed.  Billions of dollars are needed to properly house the millions of refugees streaming out of Ukraine.

Second, declare that much of the Russian wealth now under control of the many nations supporting Ukraine will be used when the war ends to rebuild all of the destroyed parts of Ukraine.  That means rebuilding all the destroyed cities and infrastructure.  Hundreds of billions of dollars will be needed.  That also means providing financial aid to the families that must rebuild their lives in Ukraine.  More billions will be needed for this.

Not only should the frozen Russian government funds be used for these purposes, but the incredible valuable assets of the many Russian billionaires be used, by converting their ships and real estate into funds that can be used to restore Ukraine and its citizens.

By announcing and embarking on these policies now in a most public way an incentive will be provided to Russia to stop the war as soon as possible.  This is what Putin needs to understand:  Only in this way will Russia at some future time receive the money that will be left over after rebuilding Ukraine society.  Russia needs to understand that the more it destroys Ukraine, the more of its frozen wealth will  be used to rebuild Ukraine and the lives of its citizens.

There must be a clear message that Russia will literally pay for all of the physical and personal destruction its war will have created.

There must be a high price for Russia to pay for its unjustified attack on Ukraine.

This fair and just retribution strategy should be expressed loudly by the US and the other nations on the side of Ukraine.

Photo by Ahmed Zalabany on Unsplash