EU will insist on helping Ukraine with profits from frozen RF assets regardless of US - Borrell
Josep Borrell assured that the European Union will insist on using the profits from frozen Russian assets to provide assistance to Ukraine despite the US decision.
According to Censor.NET, this was stated by the head of the EU diplomacy, Josep Borrell, European Pravda reports.
Borrell stressed that the EU will do everything possible to support Ukraine, despite the decision in Washington.
"Ukraine needs to improve its defense capabilities, and it needs it now," he told reporters in Brussels before a meeting of EU foreign ministers when asked about the US position.
As a reminder, Prime Minister Denys Shmyhal said that Ukraine expects to receive all $300 billion of frozen Russian assets.
In 2024, the European Union will allocate all the funds received from the Russian assets to the Ukraine Facility, a four-year economic assistance program for Ukraine, the European Commission said in a statement. According to the Commission, it is about 2.5-3 billion euros.
From there, as the EU Council has already reported, 90% of the funds will go to the European Peace Fund to supply Ukraine with weapons, and the remaining 10% will go to the EU budget for reconstruction needs.
As reported, the leaders of the Group of Seven countries have agreed on a mechanism to provide $50 billion in aid to Ukraine through the use of frozen Russian assets. The funds are planned to be disbursed by the end of 2024, and the loan will be repaid from the proceeds of frozen Russian assets.
At the same time, Putin called the plan "theft" and threatened that it "will not go unpunished."
