The European Union will allocate almost €1.9 billion for military support to Ukraine. The weapons will be purchased with the proceeds from frozen Russian assets through the European Peace Fund.
This was reported by the Prime Minister of Ukraine Denys Shmyhal.
One billion euros will be allocated to purchase weapons according to the "Danish model" — that is, directly from Ukrainian manufacturers. This will not only strengthen Ukrainian defense, but also stimulate the economy.
Another €600 million will be allocated to artillery and ammunition, and over €200 million to strengthen Ukraineʼs air defenses.
"Special gratitude to Denmark, France, the Netherlands and Italy, which will implement the purchase of Ukrainian weapons worth a billion euros," Shmyhal emphasized.
Frozen Russian assets
The value of frozen Russian sovereign assets in the EU is almost €211 billion. In total, the European Union, the G7 countries and Australia have frozen approximately €260 billion in securities and cash.
On October 23, the EU Council finally approved a loan of up to €35 billion to Ukraine. The money is the blocʼs contribution to the G7 initiative to provide Ukraine with a $50 billion (€45 billion) loan, which will be repaid with the proceeds from frozen Russian assets.
And on October 26, the G7 countries agreed on a $50 billion loan for Ukraine using proceeds from Russiaʼs frozen assets. The US contribution is $20 billion.
The money will be transferred “through various channels” — both to replenish the Ukrainian budget, and for military assistance and the restoration of Ukraine’s infrastructure. Reuters notes that Ukraine will receive all the funds under the loan by the end of 2027.
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