The EU wants to transfer a billion euros from Russian assets to weapons of the Armed Forces of Ukraine by July 1

The European Union hopes to transfer a billion euros from Russian assets to weapons for Ukraine by July 1. This was stated by the head of the European Commission Ursula von der Leyen.

According to her, this can be done if the development of a mechanism for their removal is quickly completed.

“We could send the first billion by July 1“, said the head of the EC at a press conference following the first day of the EU summit in Brussels.

She added that EU leaders “supported the European Commission’s proposals” to use profits from Russian assets for military assistance to Ukraine.

Earlier it was reported that MEPs fear the consequences of transferring income from Russian frozen assets to help the Armed Forces of Ukraine. Officials are concerned that international courts may then demand that all the money transferred be returned to Russia. And this, in turn, will destroy Europe’s reputation as a “safe haven” for investors.

Let us recall that on March 20, the head of the European Commission, Josep Borrell, proposed that the states included in the association send 90 percent of the profits from the frozen assets of the Russian Federation to help the Armed Forces of Ukraine. On the same day, Deputy Head of the EC Valdis Dombrovskis said that this proposal had been approved.

Press Secretary of the Russian President Dmitry Peskov, in turn, noted that Borrell’s decision seriously violates the legal framework and damages the image of the European Union