EU to give Ukraine €900 million in weapons funding from frozen Russian asset profits

Deputy Secretary General of the European External Action Service Charles Fries announced the funding during the opening of the second Ukraine–EU Defense Industry Forum, according to European Pravda.

Fries emphasized that the €900 million earmarked for weapons and ammunition for Ukraine will come from windfall profits generated by frozen Russian assets.

On Friday, Kaja Kallas announced that the EU would invest €1 billion in Ukraine’s defense industry. Fries stated that this was not the only measure being taken, adding that within the following two weeks, an additional €900 million would be allocated for the purchase of weapons and ammunition for Ukraine, all funded by extraordinary revenues from frozen Russian assets. He added that, with this step, the EU had committed a total of €3.3 billion to support Ukraine and its defense industry.

The EU official also noted that contracts were signed last week in Lviv, and the funds will now be directed toward cutting-edge sectors of Ukraine’s defense industry, including drone and missile production.

• The EU intends to finance Ukraine’s defense with nearly €2 billion more from frozen Russian assets, while on the frontlines, there is no sign of any ceasefire, as the Kremlin had claimed.