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LONDON — A ceasefire in Ukraine is not enough for European officials who want lasting peace in the region, European Commission President Ursula von der Leyen told CNBC.
“We are very sure that we do not just want a ceasefire and a freeze of conflict in the regions of Ukraine, because these regions will all the time be unstable. No investment will go there, and conflict can [at] they’ll erupt again at any time, as we’ve got learned since 2014. This have to be real peace,” said von der Leyen on the sidelines of a conference on the reconstruction of Ukraine.
Kiev has been fighting a Russian attempt to completely invade the country since February 2022. Territorial tensions with Moscow date back to 2014, when Russia illegally annexed Crimea – which Kiev considers a part of Ukraine.
Ukraine is in the early stages of a counter-offensive to reclaim Russian-occupied territories in the south and east of the country. Military analysts argued that Kiev was making little gains.
Peace talks seem elusive for now, and Western officials are skeptical in regards to the prospects for achievement of international proposals similar to the 12-point plan unveiled by Russia’s important trading partner China on the primary anniversary of the conflict.
Beijing’s plan did not condemn Russia for the invasion and did not consider Kiev’s desire to regain Crimea.
Talking to CNBC’s Steve Sedgwick, von der Leyen said China could still be a key player in the peace process.
“China is a everlasting member of the UN, and that comes with responsibility. And China has influence over Russia, so we expect China to make use of that influence to influence Russia to sit down on the negotiating table,” she said.
Her comments come as Western governments look like stepping up efforts for Ukraine’s future reconstruction. British Prime Minister Rishi Sunak announced at a conference on Wednesday a loan guarantee price $3 billion over three years. On Tuesday, the European Union announced that it would supply Ukraine with aid of fifty billion euros ($54.58 billion) between 2024 and 2027.
Von der Leyen said the two-day meeting in London was about governments coordinating aid to Kiev, but in addition persuading private investors to affix.
“It’s in regards to the private sector getting involved,” she said. “We need this information, we want this information and in fact financial firepower.”
Data from the World Bank and the European Commission, published in March, show that the associated fee of rebuilding Ukraine will likely be around $411 billion. Nonetheless, that number preceded the devastating collapse of the Nova Kakhovka Dam and the resulting flooding earlier this month, and the prices only increase because the war drags on.
Ursula von der Leyen, President of the European Commission, attended a donors’ conference for Ukraine in London.
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