EU envoys agree to use profits from frozen Russian assets for Ukraine

EU envoys agree to use profits from frozen Russian assets for Ukraine

The Straits Times - World·2024-05-09 06:05

BRUSSELS - Ambassadors from European Union countries agreed on Wednesday to use windfall profits from Russian central bank assets frozen in the EU for Ukraine's defence, the Belgian government said.

Ministers still need to approve the legal text that will see 90% of the proceeds go into an EU-run fund for military aid for Ukraine, with the other 10% going to support Kyiv in other ways, four EU diplomatic sources said.

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