The European Union has reached an agreement on how to allocate the profits made from frozen Russian assets in Europe. These profits will be used for military aid and the recovery of Ukraine, in order to help the country defend against Russian aggression in the east.
The Belgian Presidency of the Council of the EU announced the agreement on social media, stating that the benefits generated by the assets of the Central Bank of Russia will be used to support Ukraine. This initiative follows a proposal made by Josep Borrell, the High Representative of the European Union for Foreign Policy, back in March. The proposal suggested using around 3,000 million euros generated from immobilized Russian assets, with plans to start allocating them from July.
This agreement marks another step in supporting Ukraine as they fight against Russian aggression. The EU member states have come together to take action and provide assistance to Ukraine during this difficult time. By using the profits generated from frozen Russian assets, the EU aims to make a positive impact in Ukraine by aiding in their recovery and supporting their military efforts.
