Umerov told how the first tranche of income from frozen assets of the Russian Federation will be spent
Date: 2024-07-11 Author: Кирило Загоруйко Categories: WAR
Already in early August, Ukraine will receive the first tranche of income from Russia’s frozen assets in the amount of 1.4-1.5 billion euros. Defense Minister Rustem Umerov met with the EU High Representative for Foreign Affairs and Security Policy Josep Borrell in Washington and discussed this issue with him.
“I would like to thank the EU for the important decision on the use of income from the frozen assets of the Russian Federation. On May 21, 2024, the EU Council decided to allocate 90% of the frozen assets of the Russian Federation to the Ukraine Assistance Fund, which is part of the European Peace Facility. These funds will be used for defense needs Ukraine," the minister said on Telegram.
As the head of the defense department said, the total amount of interest on the frozen assets of the Russian Federation will be approximately 2.5-3 billion euros per year. Ukraine and the EU have already discussed what the money from the first tranche will be used for. Three areas will be prioritized:
- ammunition;
- air defense systems;
- support for Ukrainian manufacturers.
“It is important to note that EU-funded goods must be delivered to Ukraine by the end of 2024. These decisions are extremely important for strengthening our defense capability and supporting Ukrainian manufacturers,” Umerov noted.
