Skip to content

European Commission proposal would use 90% of profit from frozen Russian assets for Ukraine military, 10% for state budget

Ukrainian Prime Minister Denysy Shmyhal meets Josep Borrell, the EU's foreign policy chief

The European Commission has proposed transferring about €3 billion per year in profits generated by frozen Russian assets to Ukraine, with about 90% earmarked for military spending this year and 10% for the general budget.

Under the proposal, which still needs to be approved by European Union member states at a meeting going on Thursday and Friday this week, the first payment to Ukraine could come as early as July.

This post is for subscribers only

Sign up

Already have an account? Sign in