European Union ambassadors have tentatively agreed to release billions of euros in frozen Russian central bank assets to provide Ukraine with additional funds for arms and ammunition, Associated Press reports.
The deal, announced by Belgium, which holds most of the frozen assets, allows up to 3 billion euros ($3.2 billion) annually for Kyiv, with 90% earmarked for military equipment. The first installment could reach Ukraine by July. The EU holds around 210 billion euros ($225 billion) in frozen Russian assets, primarily in Belgium, in response to Moscow’s war against Ukraine.
Some member states, like Hungary, oppose supplying weapons to Ukraine, so safeguards were included to allocate 10% of the funds as general aid. Official endorsement of the agreement by EU member states is still pending.
