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The EU announced it had made available 1.5 billion euros (US$1.6 billion) to aid Ukraine, the first tranche of interest on frozen Russian funds that were frozen as part of sanctions against Russia after it launched a full-blown war in Ukraine.
The Hague (Netherlands). The European Union (EU) announced that it has made available 1.5 billion euros (1.6 billion US dollars) to aid Ukraine, the first tranche of interest earned from the profits of frozen Russian funds. In May, the 27 EU member states agreed to spend the interest earned from 210 billion euros (225 billion US dollars) of Russian central bank assets frozen as part of sanctions against Russia for launching a full-fledged war in Ukraine.
Most of this money is in Belgium. Brussels estimates that interest on these assets can generate about three billion euros per year. European Commission President Ursula von der Leyen said in a statement, “The European Union stands with Ukraine. Today we are transferring 1.5 billion euros obtained from ‘frozen’ Russian assets to protect and rebuild Ukraine. There can be no better use of Kremlin’s money than to make Ukraine and the whole of Europe a safe place to live. ” This step has been taken a few days after Russia announced the recapture of two villages in eastern Ukraine.
Disclaimer: Sarkari Result Daily has not edited this news. This news has been published from PTI-language feed.
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