The European Union announced the transfer of a tranche of €1.5 billion from profits from frozen Russian assets to Ukraine.
European Commission President Ursula von der Leyen wrote about this on Twitter (X).
According to von der Leyen, the money is intended to support the defense and reconstruction of Ukraine.
"There is no better symbol and better use for the Kremlin's money than to make Ukraine and all of Europe a safer place to live," she emphasized.
In a separate statement, the press service of the European Commission specified that the money will be directed through the European Peace Fund and the fund to support Ukraine's military potential, as well as for the restoration of the country.
The funds of the European Peace Fund are used as compensation to EU countries for the supply of military aid to Ukraine.
The European Commission recalled that, as part of the sanctions imposed against the Russian Federation, the assets of the Central Bank of Russia located in the EU were frozen, which led to the accumulation of income.
According to proposals from the European Commission and High Representative Josep Borrell, the EU Council adopted a package of legal acts allowing the use of these incomes from frozen Russian assets in favor of Ukraine.
Recall that in June, the European Union agreed to use part of the excess profits from frozen Russian assets for military aid to Ukraine. The decision was approved despite Hungary's resistance.
Top EU diplomat Josep Borrell said that, in addition to the first tranche, another 1 billion euros would be allocated by the end of the year to purchase weapons for Ukraine.
Prepared by: Nina Petrovich