The European Union has reached an agreement on how to use the profits generated from frozen Russian assets in Europe. This agreement sees the profits being used for military aid and the recovery of Ukraine, in order to support the country against Russian aggression in the east.
The Belgian Presidency of the Council of the EU made the announcement 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 in their struggle against Russian aggression. The EU member states have come together to take action and provide assistance to Ukraine during this challenging time. By using 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.
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