Borrell suggested that EU countries use the proceeds of frozen russian assets to arm Ukraine
Kyiv • UNN
The EU proposes to use the proceeds from frozen russian assets in Europe, estimated at about 3 billion euros a year, to support Ukraine's fight against russia through the European Peace Fund and the EU budget.
On Wednesday, March 20, EU diplomat Josep Borrell proposed that EU member states use the proceeds from immobilized russian assets in Europe to support Ukraine. This was reported by UNN with reference to Borrell's statement in X.
Details
Today, I presented the High Representative's proposal for a Council decision to use the windfall from russia's frozen assets to support Ukraine in its fight to win. 90% would be allocated through the European Peace Fund and 10% through the EU budget
The EU diplomat emphasized that he expects the Council to adopt the decision quickly. According to him, this will demonstrate the unity and commitment of the EU to support Ukraine.
Addendum
Earlier UNN wrote that the head of the European Union's foreign policy department, Josep Borrell, announced a proposal to use the proceeds from the frozen assets of the russian Federation to arm Ukraine.
Borrell emphasized that the proposal is to use the profits from assets located in Europe, not the assets themselves. According to him, this could bring in about 3 billion euros a year.
Recall
Bloomberg reported that the European Union has prepared legislation that would allow Ukraine to receive income from frozen russian assetsestimated at about 3 billion euros a year starting in July to finance arms supplies and support the Ukrainian defense industry.