EU Chief Diplomat Josep Borrell confirmed the agreement of the EU countries to use the proceeds of frozen Russian assets to buy weapons for Ukraine and the first tranche of 1.4 billion euros. This is stated on the website of the European Union, reports UNN.
Details
It is noted that Borrell confirmed that the EU has reached an agreement on the use of proceeds from Russian assets in favor of Ukraine and the first tranche will amount to 1.4 billion euros.
Ministers today agreed on a legislative framework to use the proceeds of frozen Russian assets to replenish the European Peace Fund
According to him, these funds will be used in favor of Ukraine "as quickly as possible.
EUR 1.4 billion will be available next month and another EUR 1 billion by the end of the year. They will be provided to Ukraine for the following three purposes: air defense, ammunition, and support for Ukrainian industry
Borrell also reiterated that the EU had found a way around Hungary's constant attempts to block the decision.
We understand that from a legal point of view, since one country did not participate in the decision to use the assets, it cannot participate in the decision on what purposes to use them for. Now the work we still need to do on the European Peace Fund will accelerate without this blocking factor. Leaders will talk about this at the next summit