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EU agrees to use profits from frozen Russia’s assets to support Ukraine

However, Kyiv seeks confiscation of the full $210B sum.
EU and Ukraine flags in front of the Building of the European Parliament. Photo:
EU agrees to use profits from frozen Russia’s assets to support Ukraine

EU ambassadors have agreed on measures to utilize profits from frozen Russian assets within the EU, as reported by Belgium, the current EU presidency holder. 

If implemented, Ukraine could receive approximately €3 billion ($3.3 billion) annually. However, Kyiv is pushing for the confiscation of the entire $210 billion sum.

“The money will serve to support #Ukraine’s recovery and military defence in the context of the Russian aggression,” the statement on X/Twitter reads.

The decision still requires finalization by the Council of the European Union.

Previously, the European Commission suggested allocating 90% of the funds to purchase weapons for the Ukrainian Armed Forces, with the remaining 10% going towards the country’s reconstruction.

The exact revenue will depend on accounting rates, as the frozen Russian Central Bank assets are held in various EU countries and currencies. Western countries are also discussing the possibility of fully confiscating these assets, but no agreement has been reached yet.

During the EU summit in Brussels in March, EU leaders failed to reach a consensus on using the profits from frozen Russian assets to support Ukraine.

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