Source : NEW INDIAN EXPRESS NEWS
LVIV: The EU on Friday pledged to disburse one billion euros ($1.1 billion) from the proceeds of frozen Russian assets to Ukrainian arms companies to help Kyiv fight off Moscow’s invasion.
Brussels has been scrambling to beef-up its support to Ukraine following the election of Donald Trump, the US president having repeatedly criticised his country’s support for Ukraine.
“We have just made available 1 billion euros for the Ukrainian defence industry so that Ukraine could better defend itself,” the EU’s top diplomat Kaja Kallas said in the western Ukrainian city of Lviv.
“This funding will directly support Ukrainian defence companies and secure additional military aid over the coming months, which are critical.”
The West has frozen around $300 billion of Russian central bank assets — most of which are located in Europe — over Moscow’s February 2022 invasion.
The EU has moved to tap the proceeds — interest payments — on them to fund support to Ukraine, a move denounced by Moscow as theft.
SOURCE :- NEW INDIAN EXPRESS
