EU leaders have found a way to use Russia’s frozen assets to provide military aid to Ukraine.
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The European Commission proposes to provide 90% of the proceeds from frozen state Russian assets for defense assistance to Ukraine, and use the remaining 10% for restoration. In particular, Josep Borel, the EU High Representative for Foreign Affairs and Security Policy, told reporters about this, writes Voice of America.
If the plan is approved, Ukraine could receive $3 billion. per year for military needs and the first tranche of this assistance, according to media reports, may arrive as early as July.
However, EU leaders have not yet been able to agree on using profits from frozen Russian assets to help Ukraine.
Leaders in Brussels agreed to “continue to work” on a plan to use profits from Russian assets frozen in the European Union to help Ukraine, a joint statement said. But there is no concrete decision about this yet.
The European Council examined progress in further concrete steps to use the proceeds from Russian frozen assets in the interests of Ukraine, the conclusions from the first day of the summit said.
The European Council will continue to work on recently received proposals from the President of EU diplomacy and the European Commission.
The head of the European Council, Charles Michel, said that he expects a speedy resolution of the issue.
We intend to act quickly to resolve this issue,” he said at a press conference following the first day of the EU summit.
US plan
Bloomberg writes that the United States proposes to the G7 to create a fund to support Ukraine with the involvement of Russian assets
The United States offered its allies to issue bonds worth $50 billion. using Russia’s frozen assets to help Ukraine.
The bonds will be secured by profits from Russia’s frozen sovereign assets.
The proceeds from the bonds will be used to support Ukraine,” the agency reports, citing sources, adding that the discussions are at an early stage.
Kyiv’s allies are actively discussing options for using Russia’s frozen assets to help Ukraine; this, among other things, is the subject of a two-day summit of European Union leaders, which is taking place in Brussels.
Source: Racurs
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