EU to take up baton of support for Ukraine after US aid decision - Bloomberg
Kyiv • UNN
The European Union will take over assistance to Ukraine after significant support from the United States, and Europe is considering strengthening Ukraine's air defense and using frozen Russian assets to finance further assistance.
The European Union will take over the baton of aid to Ukraine after significant support from the United States, Bloomberg reports, UNN writes.
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"For Europe, which already contributed €150 billion to Ukraine, next up is addressing demands for more air defenses and deciding on the use of frozen Russian assets," the publication points out.
Belgian Finance Minister Vincent van Petegem said that Europe is "close to a political agreement" on the application of the excess profits tax on these assets, and the first collection will begin by July 1.
The foreign ministers of the bloc will discuss Ukraine at their meeting today, the newspaper writes.
"The US approval of more than $60 billion in aid provides a lifeline for the Ukrainian military in a difficult situation, although it is unlikely to turn the tide in the war," the newspaper notes.
According to the newspaper, "much will depend on how quickly U.S. aid can reach the front lines after the House of Representatives approved military and economic aid on Saturday.
