EU agrees to allocate to Ukraine income from frozen Russian assets subject to bloc sanctions

BRUSSELS

European Commission President Ursula von der Leyen has said leaders of the EU member states have agreed to allocate income from frozen Russian assets subject to EU sanctions to Ukraine, with implementation expected this summer.

The first day of the EU summit in Brussels has concluded, with von der Leyen sharing the outcomes on Ukraine at the end of the session at a press conference on Thursday.

She announced that leaders have endorsed the proposal of EU High Representative for Foreign Affairs and foreign policy chief Josep Borrell, saying, "This will provide funding for military equipment to Ukraine."

It is expecting around €3 billion ($3.25 billion) in 2024, with similar amounts expected in subsequent years, she said.

If the proposal is promptly finalized, she said the first €1 billion could be transferred on July 1, emphasizing that "concrete action" will take place during the summer months.

She also announced a proposal to raise customs duties on grains, oilseeds, and derivative products from Russia and Belarus, saying she would provide more details on Friday.

Von der Leyen said this will "prevent Russian grain from destabilizing the EU market in these products … stop Russia from using the revenues from the export of these goods to the European Union and … ensure that illegal Russian exports of stolen Ukrainian grain do not enter the EU market."

Commitment to expedite military aid

In the summit's final communique, the section concerning Ukraine highlighted the urgent need for air defense systems, ammunition, and missiles, as well as the need for the EU and its member states to accelerate all necessary military assistance.

The statement lauded efforts, including the Czech Republic's initiative to supply ammunition to Ukraine, and promised to quickly fulfill the EU's commitment to provide one million artillery shells.

However, it was noted that there was no mention of Ukraine's membership process, despite the decision to begin accession negotiations at the previous summit.

Messages from Ukrainian president

Ukrainian President Volodimir Zelenskyy addressed the leaders via video conference during the Ukraine session, saying, "Unfortunately, the use of artillery on the front lines by our soldiers is humiliating for Europe in the sense that Europe can provide more. And it is crucial to prove it now."

Zelenskyy called on the EU to rapidly accelerate defense production, urging the use of frozen Russian assets for Ukraine's reconstruction and the prompt start of negotiations for Ukraine's accession to the EU.

The summit of European leaders comes at a time when Kyiv is increasingly concerned about the sustainability of US military support, given that it is an election year and former President Donald Trump is likely to run for a second term.

In recent weeks, Zelenskyy has appealed to European allies for more support and warned that the Ukrainian army is running low on ammunition, particularly artillery shells.