The European Commission proposes to allocate €1 billion from russia's frozen assets for Ukrainian defence

The EU is channelling the extraordinary proceeds from russian assets frozen after the start of russia's aggression to strengthen Ukraine's defence capabilities. In particular, €1 billion of the second tranche is proposed to be used to develop the Ukrainian defence industry directly in Ukraine.

‘We have mobilised €1.5 billion of extraordinary proceeds from frozen russian assets, 90% of this first tranche will be channelled through the European Peace Fund to deliver (to Ukraine) priority equipment, including artillery ammunition and air defence equipment, and for the first time - direct orders from the Ukrainian defence industry. From the next tranche, which is also expected to be worth €1.5 billion, we have proposed to allocate €1 billion for the Ukrainian industry,’ said European Commissioner for Justice Didier Reynders.

He reminded that since the beginning of russia's invasion of Ukraine, the EU has mobilised around €45.5 billion in military support, of which €6.1 billion has been channelled through the European Peace Facility. This helps the EU to provide Ukraine with a wide range of weapons it needs to repel aggression. In particular, Ukraine has now received F-16 combat aircraft thanks to the initiative of the Netherlands, Denmark and other European countries.

‘The European Union has pledged and delivered (to Ukraine) 1 million artillery shells. At the same time, it has increased the defence production of its own industry. This has improved production capabilities, which not only helps to provide long-term assistance to Ukraine, but also to replenish our own stockpiles. By helping Ukraine, we are also building our own security,’ said the European Commissioner.

Reynders added that the EU and its member states are training Ukrainian soldiers and intend to reach the goal of training 75,000 personnel for the Ukrainian Armed Forces by the end of the winter.

‘At the same time, we know that the current level of assistance we have provided is not enough to tilt the situation on the battlefield in Ukraine's favour. We know that russia has put its entire economy on a war footing and is counting on military aid from North Korea and Iran, as well as the substantial support provided by China. We have to increase our assistance to Ukraine,’ the European Commissioner stressed.

He noted that Ukraine urgently needs more air defence equipment, ammunition, and long-range weapons. The European Union, he said, will continue to coordinate with member states to increase such supplies to Ukraine and tailor this assistance to Ukraine's urgent needs.

‘The EU will continue to work with member states to provide all the necessary political, military and financial assistance that Ukraine needs to win. It is very important to continue this assistance in times of war. At the same time, we must also fight against impunity to bring to justice those responsible for the crime of aggression and ensure that russia pays all compensation for the damage caused by its aggression against Ukraine. We will continue to act to ensure that the russian authorities are held accountable for all crimes committed in Ukraine,’ said Reynders.

Source: Ukrinform