Belgian to adopt 14th package of sanctions against Russia, says FM

Belgian Foreign Minister Hadja Lahbib has said that the EU countries have reached a final agreement on the use of proceeds from frozen Russian assets.

EU High Representative for Foreign Affairs and Security Policy Josep Borrell promised that the funds would arrive as early as next week, Kommersant reports.

"We will adopt today the 14th package of sanctions against Russia. Regarding frozen Russian assets, an agreement has been reached, we have agreed on sufficient security guarantees for this process to release the proceeds of frozen Russian assets," the Belgian foreign minister said before a meeting of the EU Foreign Affairs Council in Luxembourg.

Earlier, Politico reported that on June 24, the EU will announce the first tranche of €1.4 billion in profits from Russian assets to the Ukraine aid fund. According to Politico, the funds will be channelled through Germany, Denmark and the Czech Republic, which, as Politico specified, will make the purchases needed for Ukraine.