EU to transfer 1.4 billion euros from Russian assets for artillery, shells and air defense for Ukraine
Photo: Dutch Foreign Minister Hanke Bruins Slot (Vitalii Nosach, RBC-Ukraine)
The European Union will transfer €1.4 billion in profits from frozen Russian assets to Ukraine. These funds will be spent on artillery, ammunition, and air defense systems, according to the Dutch Foreign Minister Hanke Bruins Slot.
"A good and important step: EU member states have agreed to use interest income from immobilized Russian assets for additional military support to Ukraine through the European Peace Facility," Slot wrote.
She added that the first payment would be approximately €1.4 billion.
"This amount will be distributed through the European Peace Facility and will be used, among other things, to finance military assets such as ammunition, artillery systems, and air defense systems for Ukraine," the Dutch Foreign Minister reported.
Transfer of profits from Russian assets to Ukraine
On May 21, the European Commission decided to transfer profits from Russian assets to Ukraine. According to the High Representative of the European Union for Foreign Affairs Josep Borrell, 90% of the revenue from frozen Russian assets will be directed to the European Peace Facility to supply weapons to Ukraine. The remaining 10% will go towards Ukraine's reconstruction.
Today, on June 24, Borrell announced that the European Union would allocate €2.5 billion from the profits of frozen Russian assets to help Ukraine, distributed in two tranches. The first tranche will be sent next week.
He emphasized that the purpose of the funds is to provide military assistance to Ukraine to defend against Russian aggression.
