EU leaders agree

Russian assets to be used for arms purchases

The Ukrainian soldiers are dependent on Western aid.

(Bild: AP)

The EU heads of state and government have agreed on a further course of action on the controversial issue of using the proceeds from frozen Russian assets to purchase weapons and ammunition for the defense of Ukraine. Federal Chancellor Karl Nehammer (ÖVP) was still skeptical before the Council meeting.

According to the conclusions, the EU summit calls on the Council to continue working on the basis of the proposals made by EU foreign affairs representative Josep Borrell. EU Commission President Ursula von der Leyen stated at the final press conference that the first funds could flow to Ukraine as early as July.

Ukrainian soldier

(Bild: AP)

Billions for Ukraine
The Council of Member States must now quickly adopt a proposal. The EU Commission expects interest income of up to three billion euros per year. The money could be used to buy ammunition for Ukraine, for example. "The heads of state understand how urgent the situation is to act quickly so that the funds can be used quickly to support Ukraine, including militarily," emphasized Council President Michel.

The final press conference of the first day for review:

Borrell had proposed on Wednesday that the EU use 90 percent of the interest gains on frozen Russian assets to buy weapons for Ukraine through the European Peace Facility. Ten percent should flow into the reconstruction of Ukraine and into strengthening the capacities of the Ukrainian defense industry. Ukraine should also benefit from an EU defense strategy that proposes more joint military purchases.

Nehammer wants to "support" Ukraine
Germany and France are among the strongest supporters of the plan. Federal Chancellor Karl Nehammer (ÖVP), who had expressed skepticism in advance, emphasized that "something good should happen" with the profits: "According to the Austrian idea, a lot should be invested in reconstruction." The Council would now draw up proposals. The position of the neutrals is clear: "The state of Ukraine must be supported so that it can continue to exist."

In its conclusions, the EU summit confirmed that Ukraine would be supported for as long as necessary. "The negotiating framework for the accession talks with Ukraine is on the table," continued Michel. He hoped that a first intergovernmental conference with Ukraine could be held under the Belgian Presidency.

Selensky demands "highest price"
In his video address to the EU leaders, Ukrainian President Volodymyr Zelensky demanded that "the aggressor should pay the highest price for the war". It would be "only fair if both the profits from the Russian assets and the assets themselves" were used to support and rebuild Ukraine and "partly to buy weapons to end the terror".