France to receive money from Russian assets from EU to deliver weapons to Ukraine
The EU allocates 300 million euros of income from frozen Russian assets to France (photo: Getty Images)
The European Union will allocate €300 million from frozen Russian assets to France. These funds will be directed towards supplying weapons to Kyiv, according to the French Ministry of Defence.
France will participate in implementing a new program to support Ukraine under the European Peace Facility. The program uses €1.4 billion from Russian asset revenues to provide military equipment for Ukraine.
The European Commission has agreed with the Directorate-General for Defence Industry and Space to use these funds for the rapid procurement of priority equipment, including ammunition, artillery, and air defense systems from the French industry, amounting to €300 million by the end of 2024.
"This is an opportunity to continue boosting French industry in support of Ukraine," the ministry added.
On May 21, the European Commission decided to transfer profits from Russian assets to Ukraine. According to EU foreign policy chief Josep Borrell, 90% of the revenues from frozen Russian assets will be allocated for supplying weapons to Ukraine, while the remaining 10% will be used for Ukraine's reconstruction.
