European Union: Russia's frozen assets are used to defend Ukraine

Afghan Voice Agency (AVA) - International Service: European Union ambassadors agreed that most of the income from frozen assets of Russia should be used for the defense of Ukraine.
 
According to Tasnim, quoted by the Austrian newspaper "De Presse", the country of Belgium, as the rotating president of the European Union, announced that the ambassadors of the European Union agreed in principle on Wednesday to allow the frozen revenues of Russia to flow to the defense sector of Ukraine. Accordingly, 90% of this money should go to the European Peace Facility for military support, and 10% should go to the budget of the Ukrainian facility.
 
According to the report of the European Union Commission, about 210 billion euros from the Russian Central Bank have been frozen in the European Union. The agreement of the ambassadors is supposed to be approved next week in the Council of Ministers of Economy and Finance of this union. The EU Commission plans to send the first funds to Ukraine by early July. The annual income of these assets is 2.5 to 3 billion euros. The European Commission presented its proposal to the EU summit in March. According to this proposal, 90% of this money should go to weapons and ammunition for Ukraine and 10% to the defense industry and reconstruction of the country.
 
Also, the 14th package of sanctions against Russia is on the agenda of the European ambassadors, which foresees, among other things, a ban on the import of liquefied gas. Other organizations and people should also be added to the sanctions list.
 
The EU has frozen Russian central bank funds - and they generate good income and profits every year, both of which are out of reach for Moscow.
 
Thus, after long negotiations, the European Union wants to use the future benefits of these assets to equip Ukraine's military in the fight against Russia. This year alone, it is expected to raise three billion euros.
 
Of course, the negotiations in this regard were difficult because, including neutral countries like Austria, they do not want to participate directly in the procurement of weapons and ammunition. But now it has been agreed that part of the interest income will be used for other financial assistance as well.
 
Currently, of course, there are no plans to directly use the funds of the Central Bank of Russia through the expropriation decision. One of the reasons for this is legal concerns and the possibility of retaliation from Russia. Earlier last year, Moscow warned the European Union not to confiscate the property of the Russian government or Russian citizens. For example, it can be imagined that in response to such an action, companies operating in Russia from EU countries will be forcibly confiscated. In addition, the direct use of Russian assets can lead to the loss of confidence of other countries and investors in the European financial center and the withdrawal of assets from the European Union.