The European Union has authorized the use of profits from frozen Russian assets to help Ukraine. The first tranche is expected during the summer of 2024.
EU Special Representative for Sanctions David O’Sullivan said this in an interview with RBC-Ukraine.
First payments of frozen assets
He noted that he cannot say exactly when the first tranche of money will arrive.
They are watching now
— I would not like to promise exactly when the funds will arrive in the account, but a decision will be made in the coming weeks, and the payment will be made later,” said David O’Sullivan, answering a question about the first tranche.
According to him, last week the European Union agreed on the use of this money for Ukraine. However, it is necessary to agree on the exact legal mechanism by which the money will be transferred to Ukraine.
— And we hope that a decision will be made in the next few weeks,” added David O’Sullivan.
According to the EU special representative on sanctions, the important thing is that the European Union has immobilized this money, and one way or another it will go to Ukraine. It is quite possible that in the short term this will be a tranche for military purchases.
If the Group of Seven (G7) decides that it is better to use Russian assets to obtain more money through the provision of a loan, then this decision may be made later.
The G7 will continue discussions on this issue in June, O’Sullivan said.
Frozen Russian assets
Earlier, Czech Foreign Minister Jan Lipavsky said that the funds received from freezing the assets of the Russian Central Bank this year alone could reach 74 billion crowns (about €3 billion).
The European Commission website says that in 2024 the money will be used for self-defense and strengthening the military potential of Ukraine.
