EU Backs Plan to Tap Profits From Russian Assets to Aid Ukraine
Ukrainian servicemen prepare a trench system in the Donetsk region, on April 4.
Photographer: Roman Pilipey/AFP/Getty ImagesEuropean Union member states have tentatively approved a plan to use the profits generated by Russian sovereign assets frozen in the bloc to support Ukraine’s recovery and military defense.
Under the plan agreed to by EU ambassadors on Wednesday, most of the proceeds generated from Feb. 15 onwards would be transferred to the European Peace Facility, a mechanism that reimburses weapons supplied to Kyiv, and to the EU budget’s Ukraine facility.