On Monday, July 22, EU High Representative Josep Borrell announced that Ukraine would receive the first money from frozen Russian assets in early August, next week. The funds will be spent on air defense, shells and defense industry, Suspilne reports.
Regarding the proceeds, I informed the ministers about the progress in preparing the first transfer of 1.4 billion [euros], which is expected to take place in early August, next week, – the diplomat said at a meeting of the EU Foreign Affairs Council.
Borrell added that with these funds, the EU plans to finance the purchase of priority military equipment for Ukraine – air defense, ammunition for artillery – as well as make purchases for the Ukrainian defense industry.
In this way, we are going to not only provide military support to Ukraine, but also receive it from Ukraine itself, which is certainly the most logical and effective thing we can do, – the official said.
On July 10, European Commission spokesman Christian Wiegand said that Ukraine would receive the first tranche of about 1.5 billion euros from the proceeds of Russia’s frozen assets over the next few weeks.
