The EU will direct the frozen assets of Russia to the military support of Ukraine already in July
The European Union took a decisive step in supporting Ukraine by adopting a plan to use revenues from frozen Russian assets for military aid. It is expected that the first payments aimed at the supply of modern weapons and ammunition will be made already in July.
The Minister of Foreign Affairs of the Czech Republic Jan Lipavsky said that this year the amount of aid may reach 3 billion euros, of which 90% will be directed to military support.
“Within the framework of the EU, we decided to transfer to Ukraine the funds obtained as a result of freezing the assets of the Russian Central Bank. This year alone, this amount may reach 3 billion euros“, the Minister of Foreign Affairs of the Czech Republic Jan Lipavskyi wrote on the X social network (Twitter).
The European Commission is actively working to ensure that the first payments are made as soon as possible. Executive Vice President of the European Commission Valdis Dombrovskis noted that speed is the key factor and the Commission is making every effort to implement the plan.
The decision on the use of frozen assets will enter into force after publication in the Official Journal of the EU. Payments will be made every two years, while the priority of Ukraine’s needs will be reviewed annually.
