EU to allocate €1bn from profits of Russian assets for arms orders from Ukrainian defence industry
www.pravda.com.ua
Fri, 09 May 2025 16:11:42 +0300
Kaja Kallas, EU High Representative for Foreign Affairs and Security Policy, and ministers from EU member states have signed a declaration in Lviv expressing their intention to transfer 1 billion in profits from frozen Russian assets to Ukraine.
Source European Pravda Details On 9 May in Lviv, a declaration was signed to transfer 1 billion in profits from frozen Russian assets to Ukraine.
The declaration was signed by Kaja Kallas, Danish Minister for Business Morten Bdskov, French Foreign Minister JeanNol Barrot and Italian Deputy Foreign Minister Edmondo Cirielli.
With these funds, the signatories will purchase weapons for the Armed Forces of Ukraine, stated Ukrainian Prime Minister Denys Shmyhal.
He later clarified that, in total, the EU will allocate 1.9 billion from the profits of Russian assets for the purchase of weapons for Ukraine.
Shmyhal said that over 600 million will be directed towards artillery and ammunition, and more than 200 million will go towards strengthening Ukrainian air defence.
We sincerely thank the European Union for this forwardlooking decision, leadership and support.
Special thanks to Denmark, France, the Netherlands and Italy, which will carry out the procurement of Ukrainian weapons worth 1 billion, Shmyhal wrote.
Background In early April, EU Ambassador to Ukraine Katarna Mathernov said the EU would soon receive a second tranche of funds from the profits of immobilised Russian assets, amounting to 2.1 billion.
The majority of the funds will be used to purchase weapons, ammunition and air defence systems for Ukraine in the form of grants, she noted.
In particular, part of the funds will be transferred to EU member states for the purchase of ammunition and air defence systems for Ukraine, and another 1 billion will be directed towards orders from the Ukrainian defence industry under the Danish model.
Mathernov reiterated that the EU had already invested 400 million in Ukraines defence industry in 2024.
In an interview with European Pravda, she explained that this included, in particular, the production of Bohdana howitzers.
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