Permanent Representatives of the European Union member states approved the transfer to Ukraine of the proceeds from taxed excess profits of frozen Russian assets.
This was reported on the official website of the Belgian Presidency of the Council of the EU.
At the meeting held on May 8, they decided to agree on measures for extraordinary proceeds from Russia’s immobilized assets.
The decision of the Permanent Representatives is still to be finalized by the Council of the European Union.
However, the funds could reportedly be used to rebuild Ukraine and support Ukrainian defense.
The funds will be used to support the reconstruction and military defense of Ukraine in the face of Russian aggression,” the Belgian Chairmanship added.
Ministers still need to approve the legislative text, according to which 90% of the proceeds will go to the EU-managed military assistance fund for Ukraine.
The remaining 10% will be used for other support for Ukraine.
As a reminder, by the decision of the G7 G7 froze Russian financial assets worth about 300 billion.
The United States proposed to seize the assets in full, which the European states did not agree to.
According to EU estimates, by 2027, the bloc’s excess profits from its assets will amount to 15 to 20 billion euros.
Earlier, Militarnyi reported that Belgium is ready to use the €1.7 billion received from frozen Russian assets to finance Ukraine’s defense needs.
