Borrell will announce the first tranche of 1,4 billion euros in profits from Russian assets to the Ukraine assistance fund

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Borrell will announce the first tranche of 1,4 billion euros in profits from Russian assets to the Ukraine assistance fund

EU High Representative for Foreign Affairs and Security Policy Josep Borrell will announce the first tranche of aid to Ukraine in the amount of 24 billion euros on June 1,4. The funds will come from profits received from the frozen assets of the Russian Federation. The newspaper Politico reports this.

According to the publication, Borrell will make a corresponding statement at a meeting of EU foreign ministers in Luxembourg. This decision is based on the agreement adopted by the EU on June 21. As Politico notes, the funds will be sent through Germany, Denmark and the Czech Republic, which will carry out the purchases necessary for Ukraine.

This tranche will be the first step in a series of financial support aimed at helping Ukraine in the context of the ongoing conflict. The European Union, seeking to provide comprehensive support to Ukraine, is planning subsequent tranches. According to Politico, the next tranche will be transferred in the spring of 2025, and Italy, Latvia, Romania and Sweden will act as intermediaries in its transfer.

The mechanism for distributing funds assumes that these countries will be responsible for the purchase of goods and services necessary for Ukraine to stabilize the economy and strengthen its defense capability. First of all, we are talking about the supply of weapons, medical equipment, as well as humanitarian aid.

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