Current location:Global Gateway news portal > business
EU seals a deal on using profits from frozen Russian assets to help arm Ukraine
Global Gateway news portal2024-05-22 10:20:27【business】8People have gathered around
IntroductionBRUSSELS (AP) — European Union countries announced on Tuesday that they have reached an agreement to
BRUSSELS (AP) — European Union countries announced on Tuesday that they have reached an agreement to use the profits earned from frozen Russian assets to provide military support to Ukraine and help rebuild the war-torn country.
The 27-nation EU is holding around 210 billion euros ($225 billion) in Russian central bank assets, most of it frozen in Belgium, in retaliation for Moscow’s war against Ukraine. It estimates that the interest on that money could provide around 3 billion euros ($3.3 billion) each year.
Ukraine is desperate to obtain weapons and ammunition as Russia presses its military advantage.
EU headquarters said that 90% of the money would be put into a special fund known as the European Peace Facility that many EU countries already use to get reimbursed for arms and ammunition they send to Ukraine.
The other 10% would be put into the EU budget. The programs that this money funds would help to bolster Ukraine’s defense industry or to help with reconstruction, should some countries object to their share being used for military purposes.
A small group of member states, notably Hungary, refuse to supply weapons to Ukraine.
Officials have said that a first tranche of the funds could be available in July.
Address of this article:http://kuwait.shellye-mcdaniel.com/article-11d499569.html
Very good!(5)
Related articles
- Clark signs deal with Wilson Sporting Goods for signature line
- Joey Ortiz homers, drives in 4 runs, including winner in the 11th inning, as Brewers top Yankees 7
- An emergency slide falls off a Delta Air Lines plane, forcing pilots to return to JFK in New York
- ACT Brumbies end Hurricanes' unbeaten run in Super Rugby Pacific
- Report says China is accelerating the forced urbanization of rural Tibetans
- China launches 504
- Liverpool's 2
- The surprising sexual kink that is most likely to result in orgasm, new study suggests
- Pogacar extends Giro lead to over 7 minutes after winning altered Stage 16 amid protests at start
- How major US stock indexes fared Friday, 4/26/2024
Popular articles
- Kentucky congressman expects no voter fallout for his role in attempt to oust House speaker
- Uli Hoeneß and Thomas Tuchel expose divisions at Bayern Munich before Real Madrid clash
- A closer look at China's economic steadiness, vitality and potential
- JOHN MACLEOD: Could soaring prices mean the humble fish supper has finally had its chips?
Recommended
French Olympic fencer Thibus says she has been cleared of any wrongdoing after abnormal doping test
How London streets run with blood under virtue signalling Mayor Khan. A three
Woman, 19, goes to meet man, 29, after striking up romance online
Police release new image of 74
Testimony at Sen. Bob Menendez's bribery trial focuses on his wife's New Jersey home
Doja Cat SLAMS parents taking their children to her racy shows in expletive
Ncuti Gatwa is 'terrified' as launch of his first full Doctor Who series rapidly approaches
South African Freedom Day: All you need to know
Links
- Xinhua Commentary: BRICS gains charm as global dynamics shift
- Kenya, World Bank unveil carbon market guidebook for enterprises
- Relaunch of controversial program may send 'shock waves of fear' in U.S.
- Interview: Congo
- 2024 Two Oceans Marathon held in Cape Town
- China's stance on non
- Kremlin calls Biden's remarks on Putin unacceptable
- Kenya, World Bank unveil carbon market guidebook for enterprises
- Rwandans honor fallen politicians as genocide commemoration week ends
- New productive forces key to growth, Xi says