EU to Allocate Frozen Russian Assets to Aid Ukraine

EU | May 21, 2024, Tuesday // 15:15|  views

The EU has made a significant decision to allocate profits from its frozen Russian assets to support Ukraine's self-defense and recovery efforts amidst ongoing Russian aggression. This announcement came from the Belgian presidency of the Council of the EU, which is currently holding the rotating presidency. The member countries of the EU Council have reaffirmed their commitment to using these profits for Ukraine's benefit.

The decision was finalized and agreed upon last week, marking a notable step in the EU's support for Ukraine. The funds generated from these assets will be directed towards aiding Ukraine in its defense against Russian military actions and in its subsequent recovery and rebuilding efforts. This move underscores the EU's ongoing solidarity with Ukraine in the face of continued conflict and aggression from Russia.

"The EU Council has confirmed its agreement to use windfall profits from Russia’s immobilised assets to support Ukraine’s military self-defence and reconstruction in the context of the Russian aggression," stated the Belgian Presidency.

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Tags: Ukraine, EU, Russian, assets


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