EU commits frozen Russian assets income to Ukraine for military equipment

European Commission President Ursula von der Leyen said Thursday that the EU member states have unanimously decided to allocate income from frozen Russian assets subjected to EU sanctions to Ukraine. 

The decision was unveiled during the conclusion of the first day of the EU summit in Brussels, as von der Leyen briefed the press on Thursday.

“This will provide funding for military equipment to Ukraine,” von der Leyen stated, endorsing the proposal set forth by EU High Representative for Foreign Affairs and foreign policy chief Josep Borrell.

She further outlined the financial allocation, expecting approximately 3 billion euros ($3.25 billion) in 2024, with similar amounts anticipated in the ensuing years. Emphasizing prompt action, von der Leyen suggested the first 1 billion euros could be transferred as early as July 1, underscoring that concrete steps will be taken during the summer months.

Additionally, a proposal to elevate customs duties on grains, oilseeds, and derivative products from Russia and Belarus was introduced, with von der Leyen promising to unveil more specifics on Friday.

This initiative aims to safeguard the EU market from potential destabilization by Russian grain exports and deter the influx of illegally obtained Ukrainian grain into the EU market.

Expediting military aid commitments

The summit’s final communique stressed the urgent necessity for air defense systems, ammunition, and missiles for Ukraine, urging the EU and its member states to expedite all essential military assistance.

Efforts such as the Czech Republic’s initiative to supply ammunition to Ukraine were commended, with a promise to promptly fulfill the EU’s commitment to provide one million artillery shells.

Despite the decision to initiate accession negotiations at the previous summit, there was no mention of Ukraine’s membership process.

Calls from Ukrainian President Zelenskyy

Ukrainian President Volodymyr Zelenskyy addressed the leaders via video conference during the Ukraine session, saying, “Unfortunately, the use of artillery on the front lines by our soldiers is humiliating for Europe in the sense that Europe can provide more. And it is crucial to prove it now.”

Zelenskyy called on the EU to rapidly accelerate defense production, urging the use of frozen Russian assets for Ukraine’s reconstruction and the prompt start of negotiations for Ukraine’s accession to the EU.

Zelenskyy’s appeals come amid growing concerns in Kyiv regarding the sustainability of U.S. military support, especially in an election year where former President Donald Trump is anticipated to run for a second term.

In recent weeks, Zelenskyy has intensified appeals to European allies for increased support, citing dwindling ammunition supplies, particularly artillery shells, within the Ukrainian army.

Source: Newsroom