The European Union has allocated 1 billion euros from Russia's frozen assets for Ukraine

The European Union has decided to allocate one billion euros in financial assistance from frozen Russian assets to support the production capacity of Ukrainian defense enterprises, the EU's High Representative for Foreign Affairs and Security Policy, Kaia Kallas, announced at a meeting of EU foreign ministers in Lviv on May 9.

"We have just allocated one billion euros to help Ukraine's defense industry to defend itself more effectively. These funds will be very important for additional military assistance in the coming months," Kallas said.

French Foreign Minister Jean-Noël Barrot, speaking at the meeting, said his country also intends to use the funds from frozen Russian assets to finance the repair of 60 Caesar howitzers delivered to Ukraine. "We want peace, and the only obstacle to this is Moscow today," Barrot stressed.

Ukrainian Prime Minister Denys Shmyhal, however, described the decision as "historic" and emphasized that Russian funds are being used to arm Ukraine.

"Russian funds will be spent on arming Ukraine. The European Union has officially announced a plan to allocate a total of 1.9 billion euros for military assistance to Ukraine. This is a very important historical decision, and the funds from frozen Russian assets will be used to purchase weapons for Ukraine through the European Peace Fund," Shmyhal wrote on his Telegram channel.

These funds are expected to play an important role in increasing the defense capabilities of the Ukrainian armed forces, providing them with modern military equipment, and further strengthening the ongoing defensive war. Read 'Zamin' on Telegram!