International depository Euroclear in Belgium has pledged to make the first tranche of nearly 1.5 billion euros this month.
In July, the first 1.5 billion euros of income from Russia’s frozen assets will arrive in Ukraine from Belgium, which will be used for the defense of our state. Prime Minister Denis Shmyhal announced this at a government meeting on Tuesday, July 23.
“Another source we expect is the income from the frozen assets of Russia in Belgium, where a significant part of them is stored, promises to make the first payment of almost 1.5 billion euros this month, ” he says.
According to Shmygal, the funds will be used to purchase the necessary weapons – air defense, artillery shells, as well as the development of Ukraine’s military-industrial complex.
“Ukraine fundamentally insists that in the future all Russian properties in the West should be confiscated and used for the restoration and defense of our state. It will be responsible, honest and fair,” the head of government said.
The Cabinet of Ministers also decided to attract a grant of $3.9 billion from the United States. Funds will be received through the World Bank. This money will go to salaries for rescuers, teachers, doctors, as well as social support programs.
As you know, at the end of May the Council of the EU approved the transfer to Ukraine of the proceeds from the taxable surplus of frozen Russian assets. Annual revenues will be around 2.5-3 billion euros. 90% of the expected income will be used for military purposes to support the defense of Ukraine. A smaller part – 10% – will go to the restoration and reconstruction of our country.
New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.