Profits from frozen Russian assets to be given to Ukraine

The first day of sessions at the EU summit in Brussels has concluded.

European Commission President Ursula von der Leyen shared the outcomes regarding Ukraine during a press conference held at the end of the sessions.

Stating that the leaders approved the proposal by EU High Representative for Foreign Affairs and Security Policy Josep Borrell to transfer the revenues generated from Russia's frozen assets in the EU to Ukraine as a resource, von der Leyen said, "This will provide funding for military equipment for Ukraine. We can expect to raise around 3 billion euros for 2024 and similar amounts in the coming years."

In response to a question about when the proposal could be implemented, von der Leyen replied, "I told the leaders that if we finalize the proposal immediately, we could transfer the first 1 billion euros on July 1. So it depends on us. If we are fast, it is in our hands. There will be concrete action in the summer months."

Announcing that she has also prepared a proposal to increase customs duties on grains, oilseeds, and derived products from Russia and Belarus, von der Leyen noted that she would announce the details tomorrow.

Von der Leyen stated, "This will prevent Russian grain from destabilizing the EU market for these products, prevent Russia from using the revenues generated from the export of these products to the EU, and ensure that stolen Ukrainian grain illegally exported by Russia does not enter the EU market."

PROMISE TO ACCELERATE MILITARY AID

In the section regarding Ukraine in the summit's final declaration, it was stated that Ukraine urgently needs air defense systems, ammunition, and missiles, and it was emphasized that the EU and its member states would accelerate the provision of all necessary military aid.

The declaration, which expressed that all efforts in this context, including the initiative launched by the Czech Republic to urgently supply ammunition to Ukraine, are welcomed, pledged to ensure the rapid fulfillment of the EU's commitment to provide one million artillery shells to Ukraine.

It was noted that the declaration did not contain any mention of the membership process of Ukraine, for which a decision to start membership negotiations was taken at the previous summit.

News Source: AA