The Prime Minister of Lithuania, Ingrida Šimonytė, proposed to create legislation for seizing sanctioned Russian assets and helping Ukrainians now and during the country's reconstruction.

"I call on the EU and non-EU countries that have imposed sanctions to establish a legal mechanism to seize these assets," Šimonytė said at the Lugano Recovery Conference.

She noted that Ukraine laid out its recovery plan, and the partners must demonstrate they can move from discussions to joint implementation.

"We must get more funding from our budgets or make joint borrowings. We cannot resurrect the people killed by Russia, but we have a real chance to make the aggressor pay. The most acceptable way is to consider seized sanctioned Russian assets. These assets are in our banks," she said.

The Prime Minister also emphasized the need to develop a detailed plan for how each country and organization will rebuild Ukraine.

"We must continue our military, humanitarian, and financial assistance to Ukraine to win this war faster. The volume of our bilateral aid has already exceeded 500 million euros. Lithuania will transfer additional 10 million euros to the National Bank for emergency needs. We will continue to back Ukraine until your and our victory. Glory to Ukraine," she concluded her speech.

President Volodymyr Zelensky spoke about his vision of restoring the destroyed regions and emphasized the reforms needed.

The European Investment Bank, the lending arm of the European Union, offers a financing structure to help rebuild Ukraine with investments of up to €100 billion.

The EIB suggests a fund that will function similarly to the one used during the COVID-19 pandemic to guarantee its support for small and medium-sized companies, providing up to €200 billion of additional financing.