The head of the EC proposed to use the profits from the assets of the Russian Federation for the military needs of Ukraine

The European Union needs to consider the possibility of using the proceeds from frozen Russian assets for the military needs of Ukraine. This was announced by the head of the European Commission, Ursula von der Leyen.

“It’s time to start a conversation about the use of windfall revenues from frozen Russian assets for the joint purchase of military equipment for Ukraine,” said von der Leyen.

According to her, there can be no better purpose for these funds than to spend them on strengthening the defense of Ukraine and all of Europe.

“We should not exaggerate the risks of war, but we should be prepared for them, and this begins with the urgent need to restore, replenish and modernize the armed forces of the member states,” said von der Leyen.

In her speech, the head of the European Commission mentioned the new European Industrial Defense Strategy, which her commission will present in the coming weeks. According to her, one of the main goals of the strategy will be determining the priority of joint purchases.

• In Western countries, about 300 billion dollars of reserves of the Central Bank of Russia are frozen. In 2023, the international depository Euroclear earned 4.4 billion euros by investing in Russian assets frozen by the decision of the European Union. Moscow cannot use either the assets or the interest earned.