EU Pledges $1.1Bln From Frozen Russian Assets to Ukrainian Arms Industry

EU to help Ukraine purchase weapons using Russian frozen assets

Kyiv: Ukraine’s Prime Minister Denys Shmyhal on Friday said the European Union will allocate almost 1.9 billion euros for military support to his country. Shmyhal posted on his Telegram page that a billion euros from this amount will go toward the purchase of weapons directly from Ukrainian manufacturers. Some 600 million euros will go toward procuring artillery and ammunition and another 200 million will be used to bolster Ukraine‘s air defence…

France will use the revenues derived from the frozen Russian assets to ensure the maintenance of the Caesar cannons that it delivered to Ukraine, announced this Friday the head of French diplomacy from Lviv, in western Ukraine and relayed by franceinfo. "We will announce earlier that thanks to the mobilization of the revenues derived from the frozen actions, France will be able, through its company KNDS, to ensure the operational maintenance of …

The French government wants to use the interest generated by the assets to finance aid in Kiev, a method already used by the European Union.

The European Union announced its intention to allocate about 1.9 billion euros to military support for Ukraine, and the Prime Minister of the country D...

EU Pledges $1.1Bln From Frozen Russian Assets to Ukrainian Arms Industry

The European Union on Friday pledged to allocate 1 billion euros ($1.1 billion) from the proceeds of frozen Russian assets to support Ukraine’s defense industry.

Chief of European Diplomacy Kaja Kallas announced on Friday the payment of EUR 1 billion to the Ukrainian defence industry, financed by interest generated by Russian assets frozen in the EU.