Borrell: Ukraine will receive first €1.4 billion from frozen Russian assets in early August
Ukraine will receive the first tranche of €1.4 billion from the profits from frozen Russian assets in August.
This was stated by EU High Representative Josep Borrell at a press conference following a meeting of EU foreign ministers, Censor.NET reports.
"Regarding profits, I informed the ministers about the progress in the preparation of the first tranche of 1.4 million euros, which is expected to take place in early August, next week," Borrell said.
He added that these funds will be used to purchase priority military equipment for Ukraine, such as air defense systems, artillery shells and weapons from Ukrainian industry.
"Thus, we will not only provide military support to Ukraine but also from Ukraine itself. This is, of course, the most logical and effective way we can go," the EU High Representative emphasized.
Earlier it was reported that the European Commission would "very soon" present a draft plan to provide Ukraine with $50 billion in loans from frozen Russian assets.
