The european union (EU) declared today that it has sent $1.62 billion (1.5 billion euros) in frozen Russian assets to ukraine in support of that country. According to Xinhua news agency, the EU passed a series of laws in May that permitted the use of these net earnings for Ukraine's benefit, which allowed for the diversion of cash.
 
The EU stated in a statement on friday that this was the first payment made using Russian assets that had been rendered immobile. The money will go to the ukraine Facility and the european Peace Facility.

According to Josep Borrell, the EU's high representative for foreign affairs, the 1.4 billion euros allotted to the european Peace Facility would be used to fund the purchase of critical military hardware, such as artillery ammunition and air defence systems.
 
President of the european Commission Ursula von der Leyen stated, "There is no better symbol or use for the Kremlin's money than to make ukraine and all of europe a safer place to live."
 
The EU's decision has been denounced by the Kremlin as unlawful. Kremlin spokesperson Dmitry Peskov stated, "This is certainly a reason for thoughtful actions in response to such illegal decisions that are being implemented by the european union," adding that the action will not go unretaliated.
 
 
For more interesting updates wa click and follow Indiaherald WhatsApp channel

Find out more:

Euros

G GOWTHAM

27/07/2024 10:32 AM