Borrell proposes to give 90% of the proceeds from the frozen assets of the Russian Federation for the purchase of weapons for Ukraine

Josep Borrell proposed that the EU countries allocate almost all the income from the assets of the Russian Federation to weapons for Ukraine.

The head of EU diplomacy, Josep Borrell, presented EU member countries with a proposal to use 90% of the profits from frozen Russian assets in Europe to support Ukraine.

About this an EU diplomat wrote on X (Twitter).

His proposal calls for 90% of the funds to be channeled through the European Peace Fund, and 10% to be allocated to the EU budget to strengthen the capacity of the Ukrainian defense industry.

“I look forward to an early decision by the Council. This will demonstrate the EU’s unity and commitment to supporting Ukraine and its people,” wrote Josep Borrell.

Recall that the West has frozen the assets of the Central Bank of the Russian Federation for almost 300 billion euros. The lion's share of this money – about 190 billion euros – is kept in the Belgian central depository Euroclear. As early as July, Ukraine could receive 2-3 billion euros from profits from frozen Russian assets.

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