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EU Plans to Arm Ukraine Using Proceeds from Frozen Russian ...
2024-05-08 20:10:53

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.

Related news on that topic:

EU Agrees to Arm Ukraine with Proceeds from Frozen Russian Assets ... 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.

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.

Read 1 more recent news on this topic

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.
n-tv.de
7. Mai 2024 um 23:06

Ukraine war in the live ticker: +++ 16:03 EU wants to use proceeds from frozen Russian money for Ukraine armament +++ - n-tv.de

Finance
Politics
The EU plans to use the interest income from frozen Russian assets for military aid to Ukraine. In Ukraine, a law is to be passed that allows prisoners to be deployed at the front. The Austrian Raiffeisen Bank International cancels a planned deal with Russia after failing to obtain the required approval.
World - South China Morning Post
8. Mai 2024 um 14:30

Ukraine war: Kyiv lawmakers back bill allowing prisoners to join army amid manpower shortage, fresh Russian advances

Politics
Ukraine's parliament passed a bill allowing certain prisoners to join the armed forces due to a manpower shortage and fresh Russian advances. The mobilization will be voluntary and limited to specific categories of prisoners with under three years left on their sentence.
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.
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