EU to send €1.4 bln from frozen Russian assets to Ukraine for weapons
EU's High Representative for Foreign Affairs and Security Policy, Josep Borrell (Photo: Getty Images)
The European Union will send the first tranche of €1.4 billion from the profits of frozen Russian assets to purchase weapons for Ukraine in early August, according to EU High Representative for Foreign Affairs and Security Policy Josep Borrell at a press conference following the meeting of EU foreign ministers in Brussels.
Borrell informed the ministers about the progress in preparing the first transfer of €1.4 billion, expected to take place at the beginning of August, or the following week.
He noted that these funds would be used to purchase priority military equipment for Ukraine, including air defense systems, artillery shells, and weapons from the Ukrainian industry.
He emphasized that this approach would provide military support to Ukraine, and would do so from within Ukraine itself, which he described as the most logical and effective path forward.
Loan for Ukraine of $50 billion from Russian assets
EU recently approved the transfer of profits from frozen Russian assets to Ukraine.
The United States proposed allocating a $50 billion loan to Ukraine secured by frozen Russian assets. The G7 leaders supported this proposal at the June summit in Italy.
Earlier, it was reported that Ukraine could receive the first payments from the profits of frozen Russian assets in the EU this summer.
