Ukraine may benefit from proceeds of Russia's frozen assets

The High Representative of the European Union for Foreign and Security Policy, Josep Borrell, hopes that the EU Council will be able to approve military assistance to Ukraine in the amount of EUR 5 billion, as well as the use of proceeds from frozen Russian assets in the interests of Ukraine, Report informs, citing Interfax-Ukraine.

He said in Brussels, before the start of a meeting of the foreign ministers of the member states of the European Union, that today they can finally make important decisions. According to him, the first is a Ukrainian aid fund on top of the European Peace Facility – in the amount of 5 billion euros, which has been discussed for weeks. I hope that today the ministers will finally approve this, he said.

The High Representative also hopes that ministers will reach political agreements regarding the use of proceeds from Russia's frozen assets. He hopes that a political decision will finally be made to take these proceeds – not the assets, but the proceeds from them – in order to increase their ability to finance Ukrainian defense. I hope that today a political decision will be reached in order to finally take (concrete) action, Borrell continued.

He also recalled the previously announced participation in the ministerial meeting via video link of two important guests – U.S. Secretary of State Antony Blinken and Ukrainian Foreign Minister Dmytro Kuleba.