EU approves up to 1.4 billion euros of profits from Russian assets for military assistance to Ukraine - Politico
Kyiv • UNN
EU countries have approved the allocation of the first tranche of military assistance to Ukraine in the amount of up to 1.4 billion euros from frozen Russian assets, bypassing Hungary's veto.
EU countries today approved the first tranche of military assistance to Ukraine in the amount of up to 1.4 billion euros from revenues from frozen Russian assets, citing four diplomats, reports Politico, writes UNN.
Details
The money is reportedly " sent to Ukraine through the aid fund for Ukraine (UAF), but payments are blocked by Hungary.
"However, the legal service of the EU Council said that Budapest cannot stop these payments, as it abstained during the vote earlier this year on the creation of the UAF. The reason that allows for a workaround is that the funds do not come from EU taxpayers, EU officials said," the publication points out.
The money, as indicated,"will not be used for reimbursement of expenses, as is usually the case with the UAF, but for direct purchases of components such as ammunition and air defense systems." "A quarter of the amount will be spent on purchases from Ukrainian industrial enterprises," the newspaper writes.
According to an internal report of the EU Council, which was reviewed by the publication, the countries had to express their opinion before 11 am Brussels time, and none of them voted against. The decision did not require unanimity, which meant that Hungary could not block it.
"Despite today's agreement, Hungary continues to block the payment of 6.6 billion euros under the UAF as partial compensation for weapons purchased for Ukraine. According to one diplomat, Budapest is "angry" about what happened today," the newspaper writes.
The final figure of the amount of profit from frozen assets that will go to Ukraine is not yet clear, but diplomats say it ranges from 1.2 to 1.4 billion euros.
The official announcement is expected at a meeting of EU foreign ministers in Luxembourg on Monday.
