EU Strikes Deal to Fund Ukraine's Defense with Frozen Russian Assets
The agreement, primarily focusing on weapon procurement, will utilize interest from Russia's immobilized financial reserves.
- EU ambassadors finalize a plan to allocate up to €3 billion annually from Russian asset profits to support Ukraine.
- Belgium, holding the presidency and most of the frozen assets, plays a key role in brokering the deal amid complex negotiations.
- A portion of the funds is earmarked for general aid, addressing concerns from EU members opposed to arming Ukraine.
- The first disbursement to Ukraine could occur by July, pending final approval from EU finance ministers.
- Legal safeguards are included to manage potential Russian litigation risks, ensuring the plan's viability.