12:18 24.06.2024

Ukraine to receive first tranche of EU support using revenues from frozen Russian assets next week – Borrell

1 min read
Ukraine to receive first tranche of EU support using revenues from frozen Russian assets next week – Borrell

The European Union countries will provide Ukraine with a first tranche of support of EUR 2.5 billion in early July using revenues from Russian assets immobilized in the EU, High Representative of the EU for Foreign Affairs and Security Policy, European Commission Vice President Josep Borrell said on Monday.

"The first tranche of the money will come next week. The second will come some months later… We have a legal procedure to avoid any kind of blockage," he said.

Answering a clarifying question from journalists about the amount that Ukraine will receive next week, the High Representative said that it would be EUR 2.5 billion.

At the same time, he expressed the conviction that it is necessary to avoid possible blocking of this decision by some EU member states.

He also stated that the Peace Summit, which was recently held in Switzerland, opened the diplomatic path, but Putin's response, going to North Korea, traveling wherever he can get weapons, suggests that this is “clearly preparing for a long war.

The diplomatic path must continue to work, but the EU must increase its support for Ukraine, the EU High Representative said.

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