UK looking at how Russian assets can fund rebuilding of Ukraine

The United Kingdom and fellow G7 nations are looking at how Russian assets can be used to fund the rebuilding of Ukraine.

The statement came from the UK Foreign Secretary, Liz Truss, according to Reuters.

"We need a new Marshall Plan to rebuild Ukraine and in fact, we've just been discussing this at the G7 meeting that I had with my colleagues from around the world. We are looking at what we can do to use Russian assets to help pay for this," Times Radio quotes Truss as saying.

Earlier, German Federal Finance Minister, Christian Lindner, said that the idea of using frozen Russian assets for the restoration of Ukraine is being actively discussed in the G7 and the European Union, adding that he was politically open to the idea of confiscating the Russian Central Bank's foreign exchange reserves.