The EU Will Transfer Revenues from Russian Assets to Support Peace and Stability
ISLAMABAD: Monitoring Desk – The European Union has approved the military aid plan for Ukraine amounting 1.4 billion euros, which will come from the proceeds of frozen Russian assets. The funds would be used to help Kyiv with air defence, ammunition and support for Ukrainian industry, chief European diplomacy, Josep Borrell stated at a press conference after the meeting of EU foreign ministers few days ago.
An important EU decision to use profits from Russian assets was a response to Russian aggression against Ukraine. The EU member states agreed that these funds should be used to support the Ukrainian people in their struggle for independence and territorial integrity.
Josep Borrell said, 1.4 billion euros in profits from Russian frozen assets would be available for Ukraine by the end of 2024. These additional funds would be used to further strengthen Ukraine’s defense capabilities, which includes not only the supply of ammunition and equipment, but also support for Ukrainian industry.
Use of funds:
Air Defense: Strengthening air defense is a key element in ensuring the safety of Ukrainian cities and strategic sites from Russian missile attacks.
Ammunition: Essential ammunition to the Ukrainian Armed Forces will help ensure a great resilience in the fight on the front lines.
Support for Ukrainian industry: Funding national defense enterprises will grow the economy and create jobs.
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International support, in particular from the EU, is essential for Ukraine in its struggle against the Kremlin’s occupier. The freezing of Russian assets and their use to assist Ukraine is an important step in the international fight against aggression and violations of international law, which demonstrates the solidarity of the European Union with Ukraine.
Such a decision not only supports the Ukrainian people in their struggle for freedom, but also sends a clear signal to Russia about the prohibition of aggression and violation of international norms.
All Russian assets blocked today (about 300 billion US dollars), as well as the money of Russian oligarchs, should compensate the consequences of Russian aggression, ensuring defense and security of Ukraine.
The security of Europe, and indeed the whole world, depends on the security and resilience of Ukraine. After all, Russian President Vladimir Putin continues to demonstrate his imperial ambitions, seeking to expand Russia’s influence beyond its borders.
For him, Ukraine is only an intermediate result, and there is every reason to believe that Putin does not stop here. The Baltic countries, Georgia, Moldova and other former Soviet republics are already experiencing the Russia’s pressure. They well aware that Putin’s ambitions are not limited only to Ukraine.
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The Kremlin has also repeatedly threatened Poland, Germany and other EU and NATO countries.
The historical and ideological roots of Putin’s imperial ambitions go deep into the past. The Kremlin has repeatedly demonstrated its desire to restore the influence lost after the collapse of the Soviet Union.
For him, Ukraine is not just a neighboring country, but an integral part of the so-called “Russkiy mir”, important for restoring Russia’s former power.
Ukraine has been resisting the Russian aggressor for the third year, although the Kremlin predicted “victory in three days.” The Ukrainian people daily demonstrate their determination and resilience in the struggle for independence.
However, without international support, Ukraine’s capabilities are significantly limited. The international community must understand that Ukraine’s struggle is not about its own territorial integrity, but also about stability and security in Europe and outside.
