EU leaders are pressing to channel 2-3 billion euros in profits from unfrozen Russian assets to support Ukraine, a move reported by a British newspaper that cites European officials. The Financial Times notes that Brussels is pushing for this allocation to Ukraine within the current year, drawing on earnings from assets that were frozen in response to Russia’s actions.
Officials say the European Commission is laying the groundwork for a formal plan to transfer these funds to Kyiv. The proposal is expected to be unveiled ahead of the upcoming EU leaders’ summit. If the member states back the plan, the first instalment could reach Ukraine as soon as July, providing a monetary boost to its defense and reform efforts.
Ukraine’s Deputy Prime Minister for European and Euro-Atlantic Integration, Olga Stefanishyna, has highlighted progress on European integration benchmarks. She stated that Kyiv has fulfilled four of the European Commission’s recommendations that set out a negotiating framework for EU membership, signaling continued momentum in Kyiv’s bid for closer ties with Brussels.
Josep Borrell, the former EU High Representative for Foreign Affairs and Security Policy, has suggested that profits from the Central Bank of Russia’s frozen assets in Europe could be directed toward addressing Ukraine’s defense needs. His remarks emphasize the potential strategic use of these assets to support Kyiv amid ongoing security challenges.