[000:00:00;00] duh, there is a very long queue of those who want to invest now in ukraine, the truth is that the center exists in order to attract its private investors at the international level , you know, there were many memorandums, there was a writing miracle. thank you to the samsu sector for mentioning the reforms, and it is very important to understand what the private sector wants to be a participant in the successful reconstruction of ukraine, but it will require the fulfillment of certain conditions, one of the first rights. i said this in order to translate the vision in ukraine regarding the reconstruction, of course we

know that we want the country to be green ecologically juicy, economically well-developed , so that it was in a certain practical way, practical solutions flowed out, and this is necessarily the private sector. sector and we need to think about how we can arouse their interest before all the conditions for this are created , therefore we must prepare and work with them before they are ready to accept themselves this risk yet they are not ready for it the second question of the strategy which hm should go higher than just a vision is

prioritization pri- prioritization of christmas trees and kharchenko wrote to me today we need to build some productions according to , let's say, construction standards america or ukraine when it comes to the production of building materials, that is, you need to clearly know how you are going to adapt your economy to the standards in the eu, and for large investors it is very important that we have not talked much about our own ability to rebuild our country. this is human capital, because the demographic situation is terrible. u.s. contractors now have a big problem finding people. did you talk about 6 million u.s. displaced people, or those who left the country

? millions u.s. are even more internally displaced . the question arises as to how to bring them back home or do we need to convince them of this and what skills are necessary for them to rebuild. since we cannot, say , build a factory knowing that there will be no people to work there, moreover, the struggle with corruption, it comes down to it, we have a reputation in the world as a very corrupt country , uh, unfortunately, i myself am from chicago, i worked in ukraine for five years and in the apartment of kola , there is corruption everywhere, but here there are many questions on the scale, so to speak has been done over the last 10 years to prevent corruption, this is also the creation of e-e

bodies such as the anti-corruption bureau e-e corruption court , that is, with regard to prevention, there are certain institutions and technological solutions that need to be added and how much has been done here because system transparently through control over local budgets and even before the process of external review of education standards so that everything depends, let's say, on indicators not on e -e bribes but on knowledge today i would be in a left-wing church and in a hospital and i see how those reforms initiated by the minister of support are being implemented there it is also related to the fight against corruption. i think that the world does not quite understand what was done in ukraine in terms of preventing corruption, we need

to spread this information, besides , there should be consequences, there should be convictions of people, real sentences and all this work must be consistent at all levels from the top to the bottom and the last thing is the judiciary. people must be confident in the quality of the judicial system. we must show how the judicial system of ukraine has changed . i spent a lot of time with the association of lawyers in ukraine i don't know that much has changed, let's say earlier one shareholder didn't come to the shareholders' meeting and that's it, and this

meeting will not be a law, and then a new law was introduced and it was said that over actually this mechanism, which was often minority shareholders, but now it already this has not changed. for the private sector, you must see that first of all, state funds are coming in for reconstruction. you do not want to see a strategy based on the concepts in the visa on the part of the leadership of ukraine and be sure that there is human potential to ensure this process. therefore, we must to change both our reputation and the reality

of the fight against corruption and through the reform of the court system of law enforcement agencies and everything else related to this i want to add that one thing we also need security for all this, first of all we we need victory, first of all, so that all this what you talked about happened, my next question to professor zerekov, mr. professor, thank you for being with us, mr. professor, if you look at the international mass media, many experts talk about how difficult, how problematic, almost it is impossible to confiscate the frozen assets of the russian federation, and you and mr. summers and bob zelyk present a completely different picture. i simply

admire your clear and sincere position and the last article you published in iconomsi, this is a clear example of exactly such a clear position, tell me what is happening , why are so many people in the world afraid to confiscate russian assets, the first thing we should remember is that of course people are aware of this issue, but the governments do not begin to seriously work on these issues and they began to seriously approach this issue only 3-4 months ago and still do not devote enough time to the question of how to solve the freezing. they often

reduce the issue to purely sanctions, and according to the e-e approach e-e to the sanctions, it is not possible here to take this money is simply not to give russia the opportunity to use this money so that they change their position only in the last few months they began to understand that the policy of sanctions has reached a dead end this position, but only recently governments began to realize that additional measures should be taken in order to take this money into and save ukraine, but it is not against no, it is not about winning the war

because russia thinks so if we cannot defeat it. we will simply destroy it, make it not unusable, unfit for life, and the strategy of victories is not only about the battlefield, the strategy of victory says that no matter what russia does, ukraine will endure, will prosper and eventually become part of europe, but it needs those resources which secretary summers spoke about and ms. yaresko also mentioned, but only recently did western governments begin to seriously think about how to do it, they used almost all their time and resources purely military issues, emergency situations, humanitarian aid and support for ukraine's budget. if you talk to people in the embassies of western countries, they will say that 95%

of their time is spent on how to regulate these financial flows for ukraine today, which is absolutely not applicable today for the needs of the reconstruction of ukraine. if you look at why is it so difficult, first of all, everyone was very worried until recently not long ago , to be honest, very worried , secondly, there is a whole series of legal issues that, well are somewhat confusing to many people and many received the wrong advice on how to approach the solution of these legal issues because they did not fully understand the unprecedentedness of this situation and they could not evaluate the precedents, that is, they thought

purely in the paradigm of sanctions and not a competition of countermeasures, i see documents by the european commission. i read it and this document in no paragraph talks about countermeasures at the state level, it is simply not discussed, everything is said within the framework of the directive of the european commission on sanctions, they did not even consider the options measures. so there is a lot of misunderstanding here. i am currently working with two teams of international lawyers and who have to work out these issues in addition to the arguments that i have already raised

in the second place and there are a lot of false financial arguments we cannot take central bank assets they will not use dollars they will switch to china, chinese money and so on, this is a wrong argument, but it is theoretically possible, so there are a lot of hasty and very superficial arguments that were put forward as a result of a lack of in-depth analysis by people they just didn't take the trouble to understand these issues. and the next set of questions is a political issue. when it comes to state countermeasures, quite often people are afraid

that russia will do something in response, some kind of revenge, and a lot has been written about it. but people often do not notice that russia has already started its revenge, it has already launched a whole series of countermeasures against western investors and western campaigns, they are already holding many western companies hostage and uh threatening if you resort to counter we will apply countermeasures to all of your private investors . it would not be legal, but they don't care. therefore, many

countries fear that russia can eliminate all private interests from foreign countries and companies on its territory . this scares them, many hmm have not yet understood what the real cost of divorce from russia should be in financial and business terms, i want to say that they mostly do not work on these issues because they deal with those issues that are superficial. i think they it is necessary to analyze these issues much deeper over the next few months and the cake ahead at that time the rest of this year and the winter period will be absolutely

crucial for mobilization with efforts using russian assets to make them work for us and also er what did the fan-samaritan minister yura yaresko talk about thank you very much now my question to the secretary of the arymaker is to talk about global order or rather global disorder right version carries out actogressions russia feels the blow and pay the bills and russia should be brought to justice in the criminal sense of such a financial we understand well that there is and has been a long-term

dispute regarding the issue of sovereign immunity. i think that this issue is no longer an issue of sovereign immunity, but rather of sovereign impunity. this is a completely different definition . please tell me is there any real possibility to confiscate these russian assets and who could start it americans as world leaders europeans as a sphere where is the largest and volume of russian frozen assets are located in this case, it is unlikely that they can do anything. so who should start this about it with confiscation. thank you for the question . at the beginning, i want to say that i am very pleased to be here. the last time i was in kyiv was 20 years

ago and i never dreamed that i would come. in the summer we will hold a meeting here in a bomb shelter, but i hope that next time we will not meet in a bomb shelter, but what you said from the beginning is critically important, there is no doubt that under international law, russia is responsible to ukraine for enormous damage inflicted on her as a result of not illegal aggression is not just an aggressive war - it is a war of capture and full compliance with international law and er. last year in february, a decision was made by the international kindergarten in russia to stop its aggression

, of course russia does not comply with this decision and all who wants to work on the actions of russia before this adoption of the e-e court, and now everyone understands perfectly well that russia is international law , the general assembly adopted a resolution on compensation from russia in ukraine for the fact that the question was made whether russia is not to blame therefore, you owe ukraine compensation. and how will it pay this compensation as the last example of colossal aggression? it was an invasion of cancer in the compartment, and the iraqis are in the e-e horse from financial responsibility, and for 30 years, he paid compensation to all those who suffered in the withdrawal, and this compensation was paid. of arab oil revenues, russia is a major

exporter of oil, and oil revenues may be a source of compensation in the coming years , this should be remembered. but approximately 300 billion dollars are in the form of frozen russian of assets, professor zerkal asked a question about what will stand in the way of the confiscation of this money. first of all, i want to say that the g7 countries have already announced that they are holding this money hostage, they will not give everything until the issue of compensation is resolved. due to the right of the vets to the security council this issue but it is necessary to take the next step and use this money for reconstruction for the reconstruction of ukraine and this would be a very

logical step what are the obstacles to this by the way, i have two main problems here, the first is the concern of the financial sector regarding the impact on global investments of such countries and which can describe their currencies if the russian word is not me, well, secretary, uh, i am not an expert in these matters. my colleagues are in these matters experts, so i wouldn't want an explo-argument for them. another issue is related to international law, as mr. zelikov said . i think the analysis that was made before the sunny day was still superficial, and there is a rational

approach in terms of countermeasures from the legal point of view, which can be used to justify the confiscation of russian assets and their use, a superficial analysis of which we have seen it says that uh, measures to counter international legal obligations that other countries are experiencing are obliged to fulfill this international obligation. you mentioned sovereign immunity today, 300 billion russian dollars are used by sure immunity, but addressed, the immunity can be removed as a ponter of countermeasures, since countermeasures are aimed at ensuring that russia complies with its obligations under

international law, and it must be remembered that the first such an obligation is not to carry out an illegal act, but to pay compensation, we must force russia to fulfill its obligations and countermeasures are justified by planning and countermeasures, countermeasures can have the opposite effect , we will analyze our orthodox opinion has the right to i can leave this question here, it was concluded, then you will take the conclusion that it is very easy to take countermeasures with such that have a retroactive effect. the world bank in february of this year stated that by february russia

had caused 411 billion dollars in damage the number has certainly increased, theories that russia should do this write a check to ukraine for at least 400 billion dollars a and even more a but if russia, let's say, agrees with these from the window of countermeasures, they must, they must have a reverse effect, and for now , it is possible, the heart is frozen russian assets ukraine may be obliged to return this money if it receives compensation, of course this has never happened, well, this is a theoretical answer to the question of retroactive action if you hear

a-ah a-ah the last question who can become the leader in this in this it is interesting that ah canada is interesting that canada has already assumed this leading role canada has already adopted a law according to which pro-russian assets in canada can be used for these purposes the united states can do the same and in the end most of the money is in europe therefore , it is necessary for europe to take such a step but i think that first the americans should follow the example of canada and then europe will follow the example of canada and the united states, as far as i understand now, this is a brilliant solution, let's

we will place all these assets from the eu to canada, we will transfer them and it will be possible to confiscate them if allowed i would like to convey the following to our esteemed participants i do not believe in any diplomatic solutions between ukraine and russia i do not trust putin under any circumstances the successor that she will decide to pay for the damage they caused to ukraine, this means that it is necessary to develop an international mechanism , legally binding a legal mechanism, how to make russia pay and how to put putin and his russian public topic in prison and this is my idea and this task. i have a question for secretary summers, how did the professor scare me? i already said there is a superficial possible

explanation, no doubt someone will say look , if we confiscate, for example, russian assets denominated in dollars or euros, this will pave the way for the chinese, i don’t know brics leaders video nominated dollar activists do you believe that this is a realistic argument or not i believe that any uh-uh effect of what we do here in terms of demand on the dollar on the value of the exchange value of the dollar will be insignificant compared to the fluctuations that

fluctuations that are already taking place i think it is very important that the big seven act in concert on this and if it were the case that somehow a radically different perspective could be related to dollar assets or euro assets i could imagine that this could lead to changes in the relative value of the dollar dollar and euro assets, this is why it seems to me that a serious approach in this area requires collective actions on the part of the international and the international community, and this is why

there is a very important role for diplomats here, a few remarks, first we are talking about the russian dollar assets and if russia wants to take away our working assets, this is a very, very soft blow to the task in this area, where there is someone who is nervous about the fact that he is going to invest his money in the central bank, and how likely is it that the rubles

will be be accepted as payments even if it will be so, there was a certain transfer demand for trassr and to what extent it will affect this privilege it is not countries do not function as reserve currencies paying such high interest rates and premiums and the latter i think the most important thing is that i consider myself a realist and i do not i look too optimistically at the collectivism of countries regarding the role of warm feelings in the formation of international reality, what will be