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The European Union has reached an agreement in principle to allocate profits generated by Russian assets frozen in Europe to military aid and the recovery of Ukraine. This decision was announced by the Belgian Presidency of the Council of the EU, who stated that it reflects a unified effort by the EU to stand behind Ukraine in its struggle against Russian aggression in the east of the country.
The EU member states have agreed to use assets of the Central Bank of Russia in Europe to provide military aid and help in the recovery process of Ukraine. This initiative follows a proposal made earlier this year by the High Representative of the European Union for Foreign Policy, Josep Borrell, and represents a concrete action to support Ukraine in its ongoing conflict with Russia.
By allocating profits generated by frozen Russian assets, the European Union aims to provide much-needed assistance to Ukraine as it continues to face Russian aggression. This decision signals a commitment from EU member states to use available resources to support Ukraine and address the challenges it faces in the region.
