BRUSSELS – The European Union is pressing ahead with a plan to use the profits generated from billions of euros of Russian assets frozen in Europe to help provide weapons and other funds for Ukraine, a senior official said Tuesday.
“The Russians will not be very happy. The amount of money, 3 billion per year, is not extraordinary, but it is not negligible,” Borrell told reporters. The other 10% would be put into the EU budget to help bolster Ukraine´s defense industry. Countries that object to sending weapons could then claim that they are not arming the country, Borrell said.The EU budget can’t be used to buy arms, under current expert interpretations of the bloc´s treaties, but the special fund – known as the European Peace Facility – runs off-budget and doesn’t have to respect the same legal standards or be approved by the European Parliament.
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