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EU ambassadors support use of profits from Russian assets for Ukraine aid

EU ambassadors support use of profits from Russian assets for Ukraine aid (flickr by libereurope)
Author: Maria Kholina

EU ambassadors have agreed to use the profits from frozen Russian assets to help Ukraine, according to the Belgian presidency of the Council of the European Union and Radio Liberty correspondent Ricard Jozwiak.

"EU Ambassadors just agreed in principle on a proposal on the use of windfall profits related to immobilised assets to support Ukraine’s reconstruction," the statement said.

The Belgian presidency did not disclose further details.

Updated 21:48

Radio Liberty's correspondent in Brussels, Ricard Jozwiak, said that the EU ambassadors had decided to transfer the proceeds of Russian assets to a separate account.

"Now its all about agreeing next step: actually sending the cash to Ukraine," he added.

Confiscation of Russian assets in favor of Ukraine

At the end of last year, Western media reported that the United States had proposed to the G7 countries to confiscate $300 billion in frozen Russian assets in favor of Ukraine.

This plan was supposedly to be agreed upon by the second anniversary of the full-scale invasion of Ukraine by the Russian occupiers.

Later, journalists wrote that the European Union had made progress in introducing a tax on windfall profits from the frozen assets of the Russian central bank. But there is no talk of confiscation yet.

Meanwhile, a few days ago, Ukrainian President Volodymyr Zelenskyy said that Western countries were close to confiscating Russian assets.