EU approves use of proceeds from Russian frozen assets for Ukraine

RUSSIA / FSU POLITICS - In Brief 22 May 2024 by Alex Teddy
On May 21 the decision in relation to up to EUR 3 billion was announced. 90% of this will go to the European Peace Facility and it will pay EU countries for the military equipment they donate to Ukraine. There has been discussion of confiscating the frozen Russian assets but several EU member states oppose that, saying it is illegal. There are USD 225 billion of assets of the Russian Central Bank in the EU and tens of billions of USD of such frozen assets in the United States and the UK. It is rumored that Germany will gift Ukraine with another EUR 3.8 billion of military aid in 2024. Zelensky said the supplies of US munitions and assets were already making a difference in the fighting in Kharkiv.

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