Eng
Esp

Copyright © 2024 Euromaidanpress.com

The work of Euromaidan Press is supported by the International Renaissance Foundation

When referencing our materials, please include an active hyperlink to the Euromaidan Press material and a maximum 500-character extract of the story. To reprint anything longer, written permission must be acquired from [email protected].

Privacy and Cookie Policies.

Austrian chancellor opposes using profits from frozen Russian assets to finance weapons for Ukraine

“For us neutrals it must be ensured that money, for which we give our approval, is not spent on weapons and ammunition,” said the Austrian Chancellor.
byIryna Voichuk
21/03/2024
2 minute read
Chancellor of Austria Karl Nehammer
Chancellor of Austria Karl Nehammer during his visit in Kyiv on 9 April 2022. Credit: Ukraine’s Presidential Office
Austrian chancellor opposes using profits from frozen Russian assets to finance weapons for Ukraine

Speaking at a press conference before the EU leaders’ summit, Chancellor of Austria Karl Nehammer has expressed opposition to the European Commission’s proposal to allocate profits from frozen Russian assets in the EU for military aid to Ukraine.

This comes after the European Commission announced plans to send up to €3 billion per year to Ukraine using profits from frozen Russian assets.

Nehammer stated that Vienna supports using these funds for Ukraine’s reconstruction but opposes their use for military assistance.

“For us neutrals it must be ensured that money, for which we give our approval, is not spent on weapons and ammunition,” said the Austrian Chancellor.

Meanwhile, German Chancellor Olaf Scholz and Belgian Prime Minister Alexander De Croo supported the idea of using revenues from Russian assets for military aid to Ukraine, Reuters reported.

“These (proceeds) should first of all be used to buy those weapons and ammunition that Ukraine needs to defend itself,” Scholz said.

According to the European Commission’s proposal, 90% of the profit from immobilized sovereign assets of the Russian Federation is intended to be directed through the European Peace Facility for the purchase of weapons for Ukraine. The remainder will be used for recovery and reconstruction.

While the plans still require agreement from EU member states meeting in the Council, officials now hope first payments could take place as soon as July.

Read also:

You could close this page. Or you could join our community and help us produce more materials like this.  We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

To suggest a correction or clarification, write to us here

You can also highlight the text and press Ctrl + Enter

Please leave your suggestions or corrections here



    Euromaidan Press

    We are an independent media outlet that relies solely on advertising revenue to sustain itself. We do not endorse or promote any products or services for financial gain. Therefore, we kindly ask for your support by disabling your ad blocker. Your assistance helps us continue providing quality content. Thank you!

    Related Posts