EU Should Use Frozen Russian Assets to Boost Defense, Spain Says

How European countries plan to fund defense efforts

Some governments have already chosen which resources to mobilize to increase their military budget, while others are still deliberating.

EU should use frozen Russian assets to boost defence, Spain says

The bloc's financial chiefs explored ways to finance the region’s rearming efforts over the weekend. Read more at straitstimes.com.

Financing would come from member states, European debt issues and Russian assets frozen.

EU Should Use Frozen Russian Assets to Boost Defense, Spain Says

Spain proposed setting up a new defense fund to provide non-refundable grants to beef up Europe’s defense lines and provide support for Ukraine using Russia’s immobilized central bank assets.

Spain proposes to create a new defense fund to provide non-refundable grants to strengthen Europe's defense lines and support Ukraine

"The Commission is ready to explore new options for strengthening defense," Dombrovskis said after a meeting of EU ministers in Warsaw.