EU Funding Ukraine's Military with Frozen Russian Assets

SOURCE www.npr.org
The EU approved a plan to use profits from frozen Russian assets to fund Ukraine's military in response to Russia's war on Ukraine. The funds will be collected twice a year and a portion will go towards Ukraine's defense industry and reconstruction efforts.

Key Points

  • EU approved using $3.25 billion in profits from frozen Russian assets to fund Ukraine's military.
  • EU will collect the money twice a year, with 90% going towards military support for Ukraine.
  • Some funds will also be used for Ukraine's defense industry and reconstruction efforts.

Pros

  • The funding will provide crucial support to Ukraine's military in the face of Russia's aggression.
  • The EU's decision will help Ukraine with its immediate humanitarian crisis and long-term rebuilding efforts.
  • Using profits from frozen assets avoids legal complications and potential retaliation from Russia.

Cons

  • Opponents question the legality of redirecting Russian assets and warn of potential negative consequences.
  • There are concerns about setting precedents that could impact the euro's international standing.