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March 21, 2024

EU looking into funding Ukraine weapons with frozen Russian assets

European Union leaders agreed on a number of statements condemning Russia and pledging continued support for Ukraine.

"The European Council is ever more steadfast in its support for Ukraine's independence, sovereignty and territorial integrity within its internationally recognized border. Russia must not prevail," the agreed-upon conclusions of the leaders' summit said.

"Given the urgency of the situation, the European Union is determined to continue providing Ukraine and its people all the necessary political, financial, economic, humanitarian and diplomatic support for as long as it takes and as intensely as needed," it added.

They also said they would look into the next steps necessary to use revenues from frozen Russian assets in the EU to fund military support for Ukraine.

"We are now reviewing the progress to use windfall profits from Russian immobilized assets for Ukraine, including military support," European Council President Charles Michel said online.

The bloc had so far been reluctant to confiscate Russian assets for Ukraine's war effort, but as the war drags into its third year and financial support for Kyiv has fallen increasingly on its European partners, the option has been entertained more seriously.

https://p.dw.com/p/4dzyt