Ukrainian govt approves seizure of Russian assets: PM

Kiev, May 11: The Ukrainian government has approved the seizure of Russian assets in Ukraine, Prime Minister Denys Shmyhal has said. "Today, the Cabinet of Ministers approved a document according to which Russian assets in Ukraine are transferred to the state, or rather to the state enterprise 'National Investment Fund'," Shmyhal wrote on Telegram.

The Russian assets will be placed under the management of the National Investment Fund of Ukraine and will be used for strengthening the Ukrainian army, supporting the people and rebuilding infrastructure, Shmyhal was quoted as saying by Xinhua news agency.

The Ukrainian government is working with other countries to seize Russian assets abroad and use the funds for Ukraine's post-conflict recovery, he added.

In April, Shmyhal said Kiev sought to seize Russian assets to finance Ukraine's post-conflict recovery. "The funds of the Russian government and oligarchs will be one of the main sources for filling the Fund for the Reconstruction of our country," Shmyhal said on Telegram.