The European Union will allocate 300 million euros to Paris by the end of the year from the proceeds of frozen Russian assets to supply arms to Kiev.
According to the Report, in the statement on the website of the French Ministry of Armed Forces, the following statements were made
‘The European Commission will send €300 million this year to the Directorate-General for Armaments for the operational purchase of ammunition, artillery and air defence weapons for Ukraine,’ the statement said.
It is stated that the EU will direct a total of ‘approximately €1.4 billion in revenues from frozen Russian assets’ for the purchase of weapons for Ukraine.
The EU, Canada, the US and Japan have frozen about $300bn of Russian assets following the start of the Russia-Ukraine war. At a summit in Italy on 13 June, the leaders of the Group of Seven countries agreed to allocate $50 billion to Ukraine by the end of 2024 from the proceeds of the blocked Russian funds. On 26 July, the European Commission announced that the first tranche of €1.5 billion from the proceeds of the reinvestment of frozen Russian assets had been nationalised by the EU and transferred to the European Commission’s funds for Ukraine, 90 per cent of which will be used to compensate EU countries for arms supplies to Kiev.
