The EU summit has now called on the Council to continue working on the plans put forward by EU foreign policy chief Joseph Borrell. He proposed using 90 percent of interest profits from frozen Russian assets to buy weapons for Ukraine.
EU heads of state and government have agreed on a further approach to the controversial issue of using proceeds from frozen Russian assets to buy arms and ammunition for Ukraine's defense. According to its conclusions, the EU summit calls on the Council to continue working on the proposals of EU foreign policy chief Joseph Borrell. Chancellor Karl Nehhammer (ÖVP) was skeptical before the councilor meeting.
90 percent of Russian funds' interest profits
Borrell proposed on Wednesday that the EU would use 90 percent of the interest profits on frozen Russian assets to buy arms for Ukraine through the European Peace Facility. Ten percent should go towards rebuilding Ukraine and strengthening the capabilities of the Ukrainian defense sector. Ukraine stands to benefit from the EU defense strategy, which proposes, among other things, more joint military procurement.
In his video address to EU leaders, Ukrainian President Volodymyr Zelensky demanded that “the aggressor pay a heavy price for the war”. “Profits from Russian assets and properties” are only justified if they help support and rebuild Ukraine and “procure weapons to end terrorism.” (APA)
