The Ukrainian Prime Minister Denys Shmyhal: Belgium is ready to allocate a part of the profit from Russian missiles for the defense of Ukraine

Belgium declared €1.7 billion in profits from frozen Russian assets. Part of these funds will go to support Ukrainian refugees and other needs of Ukraine, including defense.

This was announced by the Prime Minister of Ukraine, Denys Shmyhal.

"Belgium declared that it received €1.7 billion in profit from Russian assets in the budget. Part of these funds are allocated to support Ukrainian refugees in the EU. "Belgium is partly ready to finance Ukrainian needs, including defense needs," he said.

Shmyhal noted that Belgium, together with its partners, is ready to consider the confiscation of assets of the Russian Federation and the possibility of transferring them to Ukraine. During this year, these mechanisms will be worked out.

• At the end of January 2024, the Permanent Representation of Belgium to the EU reported that the ambassadors of the European Union agreed to a proposal to use profits from Russian missiles to support Ukraine.
• Since the beginning of the war in Ukraine, the EU has frozen the assets of the Russian Central Bank for more than €200 billion. A significant part of these funds is kept in the Euroclear depository and in the first quarter of 2023 has already brought almost €750 million in profit. In addition, the EU has frozen €24.1 billion in assets belonging to Russians and Russian companies under sanctions. Last year, the US froze another $8 billion of Russian assets. Currently, the United States and the European Union are looking for legal opportunities to use all $300 billion of frozen Russian assets for the benefit of Ukraine.