EU ambassadors have approved a scheme for using windfall profits from frozen Russian assets.
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The money will be used to restore and arm Ukraine. This was reported on May 8 by the press service of the Belgian Presidency of the Council of the EU.
This decision has yet to be finalized by the Council of the European Union.
The money will be used to support the reconstruction and military defense of Ukraine in the face of Russian aggression,” the statement says.
According to Euractiv, the EU will be able to use windfall profits from immobilized Russian assets in the amount of up to three billion euros per year, mainly to finance the joint purchase of weapons for Ukraine.
Previously, Olaf Scholz reported that 90% of this amount should go to defense, but the details of the agreed scheme are not yet officially known. We can receive the first tranche in the summer.
Source: Racurs
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