EU announces intention to allocate EUR 1.9 billion from russian assets for military support of Ukraine – Shmyhal

The European Union has announced its intention to allocate almost EUR 1.9 billion from frozen russian assets for military support of Ukraine. Prime Minister Denys Shmyhal announced this on the Telegram channel, the Ukrainian News agency reports.

"Russian money is for Ukrainian weapons. Today, the EU officially announced its intention to allocate almost EUR 1.9 billion for military support of Ukraine. This is a historic decision, because weapons for Ukraine will be purchased at the expense of profits from frozen Russian assets through the European Peace Fund," he said.

In particular, EUR 1 billion of this amount will be directed to the purchase of weapons according to the so-called "Danish model" - directly from Ukrainian manufacturers.

"In this way, we are not just strengthening our defense capability, but also stimulating the economy and innovation in our defense-industrial complex," Shmyhal noted.

Another EUR 600 million will be spent on artillery and ammunition, and EUR 200 million will be spent on strengthening Ukraine's air defense.

Shmyhal thanked the EU for this far-sighted decision, leadership and support, especially Denmark, France, the Netherlands and Italy, which will implement the purchase of Ukrainian weapons worth EUR 1 billion.

As the Ukrainian News agency earlier reported, on Europe Day, the High Representative of the European Union for Foreign Affairs and Security Policy Kaja Kallas, foreign ministers of the EU countries, and delegations from 35 states and the Council of Europe arrived in Lviv.