EU greenlights sending profits from frozen Russian assets to Ukraine
Czech Foreign Minister Jan Lipavský (Getty Images)
The European Union approved sending profits from Russia's frozen assets to Ukraine, according to Czech Foreign Minister Jan Lipavský.
"We have approved in the EU using revenues from Russia's central bank's frozen assets to help Ukraine. Up to €3B only this year," he said on X.
The minister added that 90% of the funds would go for military support.
"Russia must pay for its war damages," Lipavský said.
Russian assets
Western countries have frozen the assets of the Central Bank of Russia worth about $300 billion in response to the invasion of Ukraine. The question of using this money remains open. Confiscation of assets is not yet being considered. Instead, Western states are proposing to use the profits from these assets to help Ukraine.
The Belgian depository Euroclear, keeping most of the frozen assets, is to decide on their fate shortly.
