US EditionEU seals a deal on using profits from frozen Russian assets to help arm Ukraine
- The EU Council will use profits from frozen Russian assets to aid Ukraine, as announced by the Czech representation in the EU on May 21.
- European Union countries have agreed to allocate between 2.5-3 billion euros annually for Ukraine, mainly for military needs, funded by frozen Russian assets.
- Majority of the funds will go to Ukraine's military through the European Peace Facility, with a portion also going to the EU budget.
56 Articles
56 Articles
On the second day of Belgium's government, it announced that the creditor countries have formally committed to use the EU's frozen assets from the Baltic region to support Ukraine.
The agreement should free up between 2.5 and 3 billion euros per year for Ukraine. 90% will be used to buy weapons, and 10% will be paid to the EU budget to strengthen the capabilities of the Ukrainian defense industry.
EU countries adopt plan to use frozen Russian assets for Ukraine’s defence
BRUSSELS (Reuters) – EU countries have formally adopted a plan to use windfall profits from Russian central bank assets frozen in the EU for Ukraine’s defence, the Belgian government said on Tuesday. The text only needed a rubber-stamp by ministers after EU ambassadors reached the agreement in early May. Under the agreement, 90% of the proceeds will go into an EU-run fund for military aid for Ukraine, with the other 10% going to support Kyiv…
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