EU top diplomat Josep Borrel is expected to announce today at a meeting of EU foreign ministers in Luxembourg an agreement to allocate up to 1.4 billion euros from profits from immobilized Russian assets to the aid fund for Ukraine, reports Politico, UNN writes.
Details
The transaction procedure, as noted, was successfully completed on Friday.
"This is the first tranche, which is expected to be a regular cash flow. Also, Hungary will not be able to block it, as it was with payments for Ukrainian weapons within the European Peace Fund," the newspaper writes.
It is reported that "super-profits will be sent through member countries that will work as "implementing agents", that is, they will purchase products that Ukraine has indicated as a priority." According to three diplomats, the countries selected for this tranche include Germany, the Czech Republic and Denmark. According to two diplomats, Italy, Latvia, Romania and Sweden are expected to be responsible for the next tranche in spring 2025.
"The decision to circumvent Hungary's veto has angered Hungarians," two diplomats said. Now Budapest can strengthen its veto on the European Peace Fund in the amount of 6.6 billion euros. It is expected that this issue will be considered at today's meeting," the publication points out.