EU closer to using Russian asset profits for Ukraine arms

[BumRushDaShow]

Source: Reuters

March 21, 20246:44 PM EDT


BRUSSELS, March 21 (Reuters) - The European Union could use proceeds from frozen Russian assets to help Ukraine within a few months under a plan that includes buying arms for Kyiv, EU leaders said on Thursday.

Leaders of the bloc's 27 member countries agreed at a summit in Brussels to move ahead with work on the plan, presented this week by the EU's executive body, the European Commission.

"I am confident that we can act very quickly," Charles Michel, president of the European Council of EU leaders, told reporters. The leaders' desire for urgency reflects increasing alarm about the war in Ukraine, with Kyiv's ammunition-starved forces struggling to hold back Russian troops and a $60 billion military aid package for Kyiv stuck in the U.S. Congress.

European Commission President Ursula von der Leyen said the first 1 billion euros ($1.09 billion) from the scheme could be disbursed as soon as July 1. The Commission has proposed transferring 90% of profits from the frozen Russian assets to an EU-run fund used to finance arms for Kyiv. The other 10% would go to budget aid for Kyiv.

Read more: https://www.reuters.com/world/europe/eu-leaders-discuss-using-profits-russian-assets-arm-ukraine-2024-03-20/

[SergeStorms]

1. Yes!

Kick Pootie right in his assets!

[magicarpet]

2. Well ain't that poetic justice for autocratic bullies.

Using Russian money to arm those who Putie invaded - so they can kill Russians and destroy Russian military equipment.

Go home Putie and take your army with you. Do not go on military excursions beyond your borders.

Pay war reparations for all the damage you caused and the people you killed.

[turbinetree]

3. Next up Biden...........and Congress can't do anything about it, me thinks...........

this country has 300 million is sanctioned assets ..........they can use..........

[PortTack]

4. Great!

[DoBW]

5. Man, let it be

go EU, do what you gotta do

[rockfordfile]

6. good

[GregariousGroundhog]

7. If they can get 4% profit on 300 billion in frozen assets

That would be about 12 billion dollars a year. They could buy a lot of hardware with that.