Title: CNN Newsroom with John Vause - REPARATIONS Description: Live from Atlanta, John Vause
brings context and clarity to the day's top stories from around the world, followed by
the latest sporting news.
Channel: 2 - CNNI Recorded On: 6/22/2023 12:00:00 AM
Original Air Date: 4/14/2020 Transcript Generated by SnapStream
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and secure place.
>> Biden, CNN, Kyiv.
>> Ukraine has new promises a billions of dollars in recovery aid and investment, not
just from allied governments but from private investors as well.
More than 400 global companies are pledging support in a conference in London.
Ukraine needs major investments in infrastructure, energy, manufacturing, agriculture and information
technology to rebuild immediately after the war and also to secure its long term future.
New promises are coming in from the uk, U.S.
And also from the world bank, even though the U.S. Secretary of state Anthony blinken
says that the responsibility for reconstruction and to pay for it will ultimately lie with
Moscow.
>> Even as we come together here in London, committed to supporting Ukraine's built up,
Russia continues to try to burn it down.
So, let's be clear, Russia is causing Ukraine's destruction and Russia will eventually bear
[12:13:51 AM]
and Russia will eventually bear the cost of Ukraine's reconstruction.
>> Matthew Schmidt is an associate professor of national security at the university of
New Haven.
He is an expert on defense, security and Russia as well as Ukraine.
It's good to see you.
>> Good to see you, John.
>> I want you to listen to the U.S. Secretary of state on the long term goal for rebuilding
Ukraine, here he is.
>> Even as we invest and Ukraine's immediate long term recovery, we also have to build
a Ukrainian military that is strong enough to protect Ukraine sovereignty, structural
integrity and independents, not just to defend Ukraine's land but to defend all the Ukrainians
are building and will build on that land.
>> You know, all of this is sounding a lot more expensive than the 411 billion dollars
that the world bank says is needed for reconstruction of Ukraine.
It's the reality here the cold hard truth?
No one has a clue how much is needed.
>> That is the reality.
[12:14:53 AM]
>> That is the reality.
The world bank report is several months old, there are reporting.
The fact is that there were changes every day, every time a Russian rocket it's or there
is a major battle.
I think it's important to keep in mind here, Vladimir Putin is not in Ukraine to stop nato.
He's in Ukraine to stop Ukrainian economic and political development is a threat to his
philosophy of political rule, so if he can stop that economic development, even after
the fighting stops, in a sense, he can't win, or Ukraine can win the battle, but lose the
reconstruction, and that is what is at stake here.
>> There is agreement on who should pay for all of this.
Here is the Ukrainian prime minister.
>> One of the key questions that we are constantly facing is who will pay the hundreds of billions
for the recovery.
First and foremost, Russia must pay for what it has destroyed.
>> In just using that rolled
[12:15:53 AM]
>> In just using that rolled back number, what she says is months old, 400 billion dollars,
that's about a quarter of Russia's gdp.
So is it possible, first of all, to force Russia to pay up?
And secondly, is Russia capable of paying up without the economic chaos and misery on
Ukraine's border across Russia?
>> It's important that Ukraine continue to make the case for Russian operations.
It's important that the west support Ukraine's case that the aggressor country should be
doing this, but the reality is, again, is that Russia will not do it and cannot do it,
so that money has to come from elsewhere.
It has to come from donor states, and a has to come from direct investment from companies
to think that they can make money during the reconstruction.
>> It's impossible to get any access to the wealth fund that was essentially frozen at
the early days of the World War, and the Russians --
>> It's possible that they could do that, but remember, to get to that kind of thing,
you had to get through world institutions that Russia sits
[12:16:53 AM]
institutions that Russia sits on, like, for instance, the united nations, and its allies
sit on.
It would be difficult to pull enough money hover out of the sovereign wealth fund to
rebuild Ukraine.
Remember, I think the real number, and the caveat here is that nobody really knows, but
if the -- by the time when this thing is over, I would guess that the number would be over
a trillion dollars.
>> Some are calling for a modern-day martial plan for Ukraine.
For those not familiar with the Marshall plan, listen to this.
>> Hurray, World War II is over, but Europe is in ruins.
What could a country like the United States do to help?
How about setting aside 13 billion dollars to help rebuild the smoldering continent?
That is what the European recovery plan, aka the Marshall plan, sought to do.
>> 13 billion was about 5% of the U.S. Economy at the time, which would be 1.1 trillion dollars
in 2023.
So far, U.S. Has promised 1.3 billion dollars for financial
[12:17:53 AM]
billion dollars for financial assistance.
The uk, three billion dollars in loan guarantees and global companies have pledged their support.
It looks like there is a long way to go.
>> So there is enormous opportunity in rebuilding Ukraine, enormous opportunity, and I suspect
that there will be a lot of these rushing and when the shooting stops, but they need
the insurance now, actual answers policies to protect their investments, to get them
to invest.
The other thing to remember with the Marshall plan is it worked because it was money paid
out in a community of nations that were rebuilding themselves together.
In this case, Ukraine is alone, so Ukraine is not rebuilding itself while its neighbors
are rebuilding itself.
The Marshall plan is not a perfect metaphor for what will happen here, but the key thing
for Ukraine is that they have to have foreign direct investment.
They have to have companies that think that they can make money when they invest in