Prime Minister of Ukraine Denys Shmyhal has welcomed a decision approved by the Great Seven (G7) on obliging Russia to compensate for the damage caused to Ukraine during the full-scale war of aggression, adding that today the World Bank estimates it at $486 billion.

"We will continue to apply efforts to ensure that Russia compensates for everything it destroyed by its war. In particular, we continue to work on an international compensation mechanism and other legal instruments," he said on the Telegram channel on Friday, June 14.

The Prime Minister also welcomed the "intermediate step" – G7's decision to allocate $50 billion in additional funding to Ukraine from revenues from frozen Russian assets.

He emphasized that the government "continues to work hard on the seizure of immobilized Russian sovereign and private assets."

"It is about obtaining the entire amount of more than $300 billion. […] It is Russian money that must be the key source of the long-term recovery of our state," Shmyhal said.

He also thanked the partners for their "steadfast position and support."