EU Allocates €1.4 Billion in Russian Asset Profits to Ukraine

According to the International Desk of Webangah News Agency, the European Commission announced on Wednesday that the European Union will utilize €1.4 billion ($1.6 billion) from the profits of frozen Russian assets to aid Ukraine. The commission stated that this sum, transferred to the bloc on August 3, was derived from the earnings of a portion of the Russian central bank’s assets that have been frozen by the EU in the aftermath of Moscow’s military actions.

Ursula von der Leyen, President of the European Commission, asserted in a statement, “Russia must pay for the destruction it has caused, and we are using the proceeds from frozen Russian assets to ensure this. We are providing another €1.4 billion from this amount to Ukraine. This will support Ukraine’s continued resistance against Russia’s illegal war.” The statement did not acknowledge NATO’s military buildup and mobilization near Russia’s borders prior to the conflict in Ukraine.