The European Union allocated 1 billion euros from Russia's frozen assets for Ukraine
The European Union has decided to allocate financial assistance amounting to 1 billion euros from Russia's frozen assets to support the production capacity of Ukraine's defense enterprises. This was announced by the EU's High Representative for Foreign Affairs and Security Policy, Josep Borrell, during a meeting of EU foreign ministers held in Lviv on May 9.
"We have just allocated 1 billion euros as support for the country's defense industry so that Ukraine can defend itself more effectively. This funding will be crucial for additional military assistance in the coming months," Borrell said.
French Foreign Minister Jean-Noel Barrot stated in his speech at the meeting that his country also intends to use the funds from frozen Russian assets to finance the repair of 60 Caesar howitzers delivered to Ukraine. "We want peace to be established, and the only obstacle to that today is Moscow," Barrot emphasized.
Ukrainian Prime Minister Denis Shmyhal described this decision as "historic," emphasizing that Russian funds are being used for Ukraine's armament.
"Russian funds will be spent on Ukraine's armament. The European Union has officially announced a plan to allocate a total of 1.9 billion euros in military assistance to Ukraine. This is a very important historic decision, and the funds from frozen Russian assets will be used for the purchase of weapons for Ukraine through the European Peace Facility," Shmyhal wrote on his Telegram channel.
These funds are expected to play a significant role in enhancing the defense capabilities of Ukraine's armed forces, providing modern military equipment, and further strengthening the ongoing defense war.
