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EU Agrees to Arm Ukraine with Proceeds from Frozen Russian ...
2024-05-08 20:01:03

EU Agrees to Arm Ukraine with Proceeds from Frozen Russian Assets Due to Sanctions

EU member states have reached an agreement to utilize the proceeds from frozen Russian assets, estimated at billions of euros annually, to provide military aid to Ukraine. Up to €3 billion per year is expected to be channeled primarily for joint weapon purchases and training in Ukraine, with a portion allocated for management expenses and direct financial support.

The plan includes redirecting interest earnings from the frozen assets to finance equipment and support Ukraine, with Belgium committing to channel tax revenues from 2025 into a common fund for Ukraine. This agreement signifies a significant step in using windfall profits to bolster Ukraine's defense capabilities amidst the ongoing conflict with Russia.

Related news on that topic:

Developments in the Ukraine War: Escalating Tensions and ... Responses

Recent updates in the Ukraine war reveal escalating tensions as Belarus and Russia conduct military exercises involving tactical nuclear weapons to deter Western aid to Ukraine. The conflict intensifies with reports of casualties, air strikes on critical infrastructure like oil depots, and allegations of foreign nationals being lured into participation. International responses include the EU's plan to allocate frozen Russian assets for military aid, while countries like Lithuania express readiness to send soldiers to support Ukraine despite Russian threats. Amidst concerns of nuclear posturing by Russia, global leaders emphasize the importance of exploring peaceful resolutions and caution against provoking further escalations.

EU Plans to Arm Ukraine Using Proceeds from Frozen Russian Assets

The EU has reached an agreement to utilize the interest income from frozen Russian assets, amounting to potentially up to three billion euros annually, for military aid to Ukraine. This decision comes as Ukraine passes a law allowing certain prisoners to join the armed forces in response to a manpower shortage and Russian advances. Additionally, Austria's Raiffeisen Bank International cancels a deal with Russia due to regulatory hurdles, showcasing the economic impact of the conflict. The EU's move signals a significant step in supporting Ukraine militarily amidst the ongoing war with Russia.

The press radar on this topic:

EURACTIV.com
8. Mai 2024 um 13:45

EU paves way for using windfall profits from Russian frozen assets to arm Ukraine

Politics
Finance
EU ambassadors reached a political agreement to use windfall profits from frozen Russian assets to buy weapons for Ukraine. The plan involves using up to €3 billion per year from Russian assets immobilized in European depositories primarily to finance joint weapon purchases for Ukraine. Belgium agreed to channel tax revenue from the proceeds into a common fund for Ukraine starting in 2025.
EURACTIV.de
8. Mai 2024 um 15:20

EU states want to use Russian assets to support Ukraine

Politics
Economy
Finance
EU states have agreed to use frozen Russian assets to purchase weapons to support Ukraine. Up to three billion euros per year are expected to be used from the blocked assets. Belgium has agreed to redirect tax revenues from 2025 into a joint fund for Ukraine.
The Guardian
8. Mai 2024 um 15:48

EU reaches deal on using profits from Russia’s frozen assets for Ukraine

Politics
Finance
The EU has reached a deal to use profits from Russia's frozen assets to fund weapons and aid for Ukraine, with a compromise reached on taxation and management costs in Belgium. Euroclear holds a significant portion of the frozen Russian assets and reported interest on the funds, with the final amount for Ukraine aid expected to be confirmed in July.
n-tv.de
8. Mai 2024 um 15:39

Military and Financial Aid: EU to use interest from frozen Moscow funds for Kiev - n-tv.de

Politics
Finance
The EU plans to use the annual interest from the frozen funds of the Russian Central Bank for military equipment and training in Ukraine. It is expected that up to three billion euros will be collected. The negotiations were difficult, as neutral states like Austria do not want to directly participate in the delivery of weapons.
Tagesschau - Aktuelle Nachrichten aus Europa
8. Mai 2024 um 15:58

Dinero congelado en la UE Se espera que los activos rusos congelados se utilicen para armar a Ucrania

Política
Finanzas
Los Estados miembros de la UE han acordado utilizar los activos rusos congelados por un valor de alrededor de 210 mil millones de euros para proporcionar ayuda militar a Ucrania. Los rendimientos por intereses se utilizarán para financiar el equipamiento militar y la formación, mientras que el 10 por ciento está destinado como ayuda financiera directa para Ucrania. La propuesta prevé que el 90 por ciento de los rendimientos por intereses utilizable se destinen al Fondo de la UE y que países ne..
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