Tuesday, Jun 18th

Last update01:09:25 AM GMT

You are here News International Billions from Russia's frozen assets will go to help Ukraine's military, the EU says

Billions from Russia's frozen assets will go to help Ukraine's military, the EU says

E-mail Print PDF
Billions from Russia's frpzem assets gpomg tp Ukraine

The European Union plan to use as much as $3.25 billion in profits from Russian sovereign assets — frozen by sanctions due to Russia's war on Ukraine — to fund Ukraine and its military.

"Russia must pay for its war damages," Czech Republic Minister of Foreign Affairs Jan Lipavský said as he shared the monetary amount on X.

The European Council approved sending the money to Ukraine on Tuesday, roughly two months after reaching a consensus on using revenue from hundreds of billions of dollars' worth of assets immobilized after Russia launched a full-scale war on its neighbor in February of 2022.

In response to the action, Kirill Logvinov, who heads Russia's permanent mission to the EU, alleged that the EU Council had "officially elevated theft to the rank of instruments of its foreign policy."

The remark came from an interview translated by Tass, the Russian state news agency. As for the potential repercussions of the EU move, Logvinov was quoted stating, "the consequences of the created precedent will definitely be unpredictable, including for the eurozone, the economies of the bloc's member countries, and the investment climate."


Most Recent Related Stories...

Huge explosion reported in Russian city

Russian missile attack in Kyiv China’s support for Russia is “enabling” its war in Ukraine, leaders of the world’s most advanced...

Major Ukraine summit ends with fresh plea for peace but key powers spurn final agreement

Major powers refuse to sign Xelensky peace planA two-day summit in Switzerland dedicated to forging a path forward to end the war in...

Israeli police fend off protesters near Netanyahu's house after War Cabinet disbanded

War Cabinet dismissedProtesters demanding new elections in Israel clashed with police near the Jerusalem house of Prime Minister...

A Swiss museum will remove 5 paintings potentially looted by Nazis

Swiss Museum to rremove 5 paintings looted by Nazis A Swiss museum said five artworks will be removed from public view on June 20 as...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!