EU's Borrell: Frozen Russian assets to fund Ukraine, EU military support

EU High Representative for Foreign Affairs and Security Policy Josep Borrell has said that the proceeds from Russia's assets frozen in the EU will be used to support the military-industrial complex of Ukraine and the EU countries that provide Kyiv with military aid.

He made the remarks before the informal meeting of the EU foreign ministers, where he arrived together with Ukrainian Foreign Minister Dmyto Kuleba, Caliber.Az reports, citing Russian media.

According to Borrell, 1.4 billion euros have already been allocated for this purpose.

“We will discuss revenues from Russian assets. They will be sent directly to Ukraine's industry, which produces weapons, as well as to EU countries [in the form of compensation for arms deliveries]. We have already allocated €1.4 billion,” Borrel said.

He did not specify that according to the European Commission's decision, which he himself prepared, the EU countries will receive 90 per cent of these funds and Ukraine will receive the rest.