The EU foreign ministers agreed to help Ukraine from the proceeds of the frozen assets of the Russian Federation. The first €1.4 billion will arrive next month

The ministers of foreign affairs of the countries of the European Union agreed to use the income from Russian frozen assets for air defense and weapons for Ukraine. The first tranche of €1.4 billion will arrive in Ukraine next month.

This was stated by the EUʼs chief diplomat, Josep Borrell, at a press conference after the meeting of EU foreign ministers.

"Ministers today agreed on the legislative framework for using profits from frozen Russian assets to fill the European Peace Fund," he said.

According to him, these funds will be used for the benefit of Ukraine "in the most expeditious manner."

“€1.4 billion will become available over the next month and another billion by the end of the year. They will be provided to Ukraine for the following three purposes — air defense, ammunition, support of Ukrainian industry," Borrell said.

Borrell also reiterated that the EU had found a way around Hungaryʼs constant attempts to block the decision.

"We understand that from a legal point of view, since one country did not participate in the decision on the use of the assets, it cannot participate in the decision-making on what purposes to direct them to. Now the work we still have to do on the European Peace Fund will accelerate without this blocking factor. The leaders will talk about it at the next summit," he said.

• Hungarian Foreign Minister Peter Szijjártó said that "the EU crossed a red line" when it made the decision and warned that the Hungarian side was already exploring "legal options" to challenge them. At the same time, the Legal Service of the Council of the EU claims that Hungary cannot stop this funding, as it abstained during the vote earlier this year on the creation of the Ukraine Support Fund (UAF), and the funds do not come from EU taxpayers.