EU discuss plan to use frozen Russian profits in Ukraine arms fund

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Added 2 months ago by XaniaNews

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The European Union’s foreign policy chief has proposed a plan which would see revenue from Russian assets frozen in Europe transferred to the fund that finances weapons for Ukraine.

Under Josep Borrell’s proposed plan, proceeds from assets such as interest payments would go to the European Peace Facility, an off-budget fund that provides military aid to countries outside the EU and has been used mainly for Ukraine.

But, Russian officials have called that move “potential theft”, and warned of potential consequences for those that made the decision.

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Category: News and politics
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