European Commission: Ukraine may receive the first tranche of frozen assets of the Russian Federation in May

In order to be able to use the frozen sovereign assets of Russia, it remains to agree on the proposals of the European Commission and the high representative of the EU.

Ukraine may receive the first income from the frozen assets of the Russian Central Bank by the summer. This was stated by the spokesperson of the European Commission, Christian Wiegand,  “Ukrinform”пише.

The proposal envisages that these revenues will be used for the purchase of military equipment, rehabilitation and reconstruction of infrastructure. Now it remains to agree it between EU member states.

Before that, the European Commission kept interest charges on Russian assets in separate accounts in European financial institutions.

We will remind you that after the beginning of the full-scale invasion of Russia into Ukraine, Western countries froze more than 300 billion euros of financial assets of the Russian Federation. According to some estimates, most of these funds are in EU banks.

Previously, Brussels insisted that Ukraine receive the first 2-3 billion euros of revenues from the frozen assets of the Russian Federation in July.