The EU will transfer €2.5 billion from the assets of the Russian Federation to Ukraine in two tranches – Borrell
The European Union will direct €2.5 billion of profits from frozen Russian assets to aid Ukraine in two tranches, the first of which will arrive next week.
This was stated by the EU High Representative for Foreign Affairs and Security Policy, Josep Borrell.
€2.5 billion from the assets of the Russian Federation: when Ukraine will receive them
– We have proceeds from frozen assets and we have to find a way to use them, avoiding any blocking… The first tranche will arrive next week, in July. The second is in a few months. This money cannot be stopped, – he emphasized.
According to him, these funds are intended for military support of Kyiv.
– Ukraine needs more help – and needs more help now. And I hope that the ministers will support the proposal that we submitted to increase this assistance with Russian revenues, – Borrell added.
Recently, the president of the European Commission, Ursula von der Leyen, said that already in July, the first €1.5 billion of revenues from frozen Russian assets will be transferred to Ukraine .
According to her, 90% of these funds will go to defense, 10% to reconstruction.