We will make Russia pay for all crimes – von der Leyen

She stated this during a speech at the Ukraine Recovery Conference 2024 opening ceremony in Berlin.

"We must provide Ukraine with the means to defend itself. At last year's Recovery Conference, I said we should transfer to Ukraine the proceeds of immobilized Russian assets. And now we are making it happen, in line with international law and while ensuring the stability of financial markets. Around 1.5 billion euros from the windfall profits will become available in July. 90% of these funds will go to defense, 10% to reconstruction," Ursula von der Leyen said.

The President of the European Commission emphasized that the Russian Federation should pay for all its crimes.

"And later this week, at the G7 Summit, we will further discuss how Ukraine can benefit even quicker and even more from the proceeds of immobilized Russian assets. We have always said that Russia must be held accountable for its crimes. And now we make Russia pay," she added.

What is known about frozen Russian assets

On May 8, the EU ambassadors agreed to direct the revenues from Russia's frozen assets to the reconstruction of Ukraine, as well as to the defense against the aggressor.

The European Commission reported that Ukraine will receive the first payment in July 2024.

The G7 is discussing the possibility of a loan for Ukraine based on the proceeds from Russia's frozen assets.