The head of the European Commission, Ursula von der Leyen, predicts that the EU can transfer 1 billion euros to Ukraine from the profits from frozen Russian assets as early as July 1, 2024.
EU plans to allocate to Ukraine €1B from Russia's frozen assets
The head of the EC made such a statement during the press conference following the results of the first day of the EU leaders' summit in Brussels.
The politician officially confirmed that within the bloc there is strong support for the use of the received funds for "military purposes for Ukraine".
I told the leaders that if we quickly agree to this proposal now, we can allocate the first billion to us on July 1; it's in our hands.
Ursula von der Leyen
Head of the European Commission
According to her, official Kyiv can expect to receive about three billion euros during the current year and similar amounts in the following years.
The head of the European Council, Charles Michel, also made a separate statement on this matter.
He believes the mechanism mentioned can be implemented "very quickly", as he has received "a lot of support" among the bloc's members.
What is the EU's position regarding Russian frozen assets?
On March 21, at a large-scale summit of European Union heads of state and government, members agreed that Brussels would continue to work on a plan to use profits from the Russian central bank's frozen assets.
It is essential to understand that part of these funds are intended to arm Ukraine.
In addition, on March 20, the head of European diplomacy, Josep Borrell, presented a plan to redirect interest earned on frozen Russian assets to Ukraine.
According to it, 90% of the funds should go to the fund that covers the cost of weapons for Ukraine.
