The European Union recently approved a plan to use profits from frozen Russian central bank assets to aid Ukraine, with hopes of generating €3 billion annually. This move will assist Kyiv in its fight against Russian aggression. The EU froze around €200 billion of Russian assets in response to Moscow’s invasion of Ukraine in February 2022, with the majority held by Euroclear in Belgium.
Under the approved scheme, 90% of the interest from the frozen assets will fund weapons for Ukraine’s military defense, while the remaining 10% will go towards reconstruction efforts. The United States and Britain are also proposing a more extensive plan at the G7, suggesting a $50 billion loan for Ukraine backed by future Russian asset profits.
This plan could potentially supersede the EU’s scheme and will be discussed at upcoming G7 meetings. With Ukrainian forces facing challenges on the front line, the need for additional financial support is critical. Stay updated on the latest developments and news regarding this ongoing conflict by following @Kyivpost_official on Telegram.\
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