• 23/07/2024 04:51

Frozen Russian assets for Ukraine: Umerov named what the first tranche will be used for

Frozen assets of the Russian Federation for Ukraine: Umerov named what the first tranche will be used for

The size of the first tranche from income from frozen Russian assets will be 1.4-1.5 billion euros.

The first tranche of income from Russia’s frozen assets will become available to Ukraine in August. The funds will be used for defense needs.

This was announced by the head of the Ministry of Defense of Ukraine Rustem Umerov.

Umerov met in Washington with the EU High Representative for Foreign Affairs and Security Policy, Josep Borrell. The Ukrainian minister thanked for the decision to use income from the frozen assets of the Russian Federation.

“On May 21, 2024, the EU Council decided to send 90% of the frozen assets of the Russian Federation to the Ukraine Assistance Fund, which is part of the European Peace Facility. These funds will be allocated to the defense needs of Ukraine,” said the Minister of Defense.

He clarified that the total amount of interest will be 2.5-3 billion euros annually. The first tranche in the amount of 1.4-1.5 billion euros will become available in early August.

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The EU and Ukraine agreed that the first tranche will be spent on:

  • ammunition,
  • air defense systems,
  • support for Ukrainian manufacturers.

Recall that in June Borrell said that the EU would allocate the first part of 2.5 billion euros from income from frozen assets of the Russian Federation to support Ukraine, and that the first tranche would arrive in July, and the second a few weeks later.

Read also:

  • The IMF’s unique decision on financial assistance to Ukraine: the Cabinet of Ministers and the Rada told the details
  • NATO announced another 40 billion euros for Ukraine next year: details
  • Canada announced a new $500 million aid package for Ukraine

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Profit from Russian assets in favor of the Ukrainian Armed Forces! The EU can provide Ukraine with part of the Russian Federation's money

 Frozen assets of the Russian Federation for Ukraine: Umerov named what the first tranche will be used for


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