Ukraine will receive the first tranche of profits from Russian assets frozen in EU countries since the beginning of a full-scale war in early August 2024.
The tranche amount will be € 2.5-3 billion.
This was announced by Defense Minister Rustem Umerov, who on July 10 met with the EU High Representative for Foreign Affairs and Security Policy Josep Borrell at the NATO summit.
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First tranche of Russian Federation assets to Ukraine — what will they spend on
According to the head of the defense department, the EU and Ukraine agreed that the first tranche will be spent in three areas:
- ammunition;
- air defense systems;
- support for Ukrainian manufacturers.
EU-financed goods must be delivered to Ukraine by the end of 2024.
Umerov thanked the European partners for the decision to transfer the first tranche.
— I would like to thank the EU for the important decision on the use of income from Russia’s frozen assets. On May 21, 2024, the EU Council decided to send 90% of the frozen assets of the Russian Federation to the Ukraine Assistance Fund, which is part of the European Peace Facility, — the Ukrainian official emphasized.
