EU heads of state and government have agreed on a further approach to the controversial issue of using proceeds from frozen Russian assets to purchase arms and ammunition for the defense of Ukraine. Chancellor Karl Nehammer (ÖVP) was skeptical before the council meeting.
According to the conclusions, the EU summit calls on the Council to continue working on the proposals of EU foreign policy chief Josep Borrell. European Commission President Ursula von der Leyen said at the latest press conference that the first funds could flow to Ukraine as early as July.
billions for Ukraine
The Council (of the Member States) must now quickly adopt a proposal. The European Commission expects interest income of up to three billion euros per year. The money could be used to buy ammunition for Ukraine. “The heads of state understand the urgency of the situation to act quickly so that the funds can be used quickly to support Ukraine, including militarily,” Council President Michel emphasized.
The last press conference of the first day to watch:
Borrell proposed on Wednesday that the EU would use 90 percent of interest profits on frozen Russian assets to buy weapons for Ukraine through the European Peace Facility. Ten percent should go to the reconstruction of Ukraine and strengthening the capabilities of the Ukrainian defense industry. Ukraine will 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. Chancellor Karl Nehammer (ÖVP), who had expressed his skepticism beforehand, emphasized that “something good must be done” with the profits: “According to Austrian ideas, a lot must be invested in reconstruction.” The council will now develop proposals. The position of the neutral parties is clear: “You must support the state of Ukraine so that it can continue to exist.”
The EU summit confirmed in its conclusions that it would continue to support Ukraine for as long as necessary. “The negotiating framework for the accession talks with Ukraine is on the table,” Michel continued. He hoped that a first intergovernmental conference with Ukraine could take place under the Belgian presidency.
Zelensky demands “highest price”
In his video address to EU leaders, Ukrainian President Volodymyr Zelenskiy demanded that “the aggressor should pay the highest price for the war.” It is “only fair if both the profits from Russian assets and the assets themselves” go to support and rebuild Ukraine and “in part to buy weapons to end terror.”
Source: Krone
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