Russia may agree to use $300 billion frozen funds to rebuild Ukraine

Russia may agree to use $300 billion of its sovereign assets frozen in Europe for Ukraine's reconstruction, but will insist on using some of the funds for one-fifth of Ukraine controlled by Russian forces, three sources said. On February 18, Russia and the United States held their first face-to-face talks in Saudi Arabia on ending the conflict in Ukraine, and both U.S. President Donald Trump and Russian President Vladimir Putin said they hope to meet soon. While discussions between Russia and the United States are at a very early stage, one idea Russia has floated is that it might offer to use a large portion of frozen reserves to rebuild Ukraine as part of a possible peace deal, according to three people familiar with the matter. A year ago, the World Bank estimated that reconstruction and recovery would cost $486 billion.