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According to a Reuters report on March 18, the EU’s High Representative for Foreign Affairs and Security Policy Josep Borrelli said on the 18th that foreign ministers of EU member states strongly support using the proceeds of Russian frozen assets to help Ukraine.

Reported that after a meeting with foreign ministers of EU member states in Brussels, Borelli said: I am not saying that everyone agreed, but there is a strong consensus to make this decision.

According to Bloomberg News reported on the 18th, the European Union is ready to legislate to transfer profits generated by frozen Russian sovereign assets to Ukraine as early as July this year.

Reported that the proposal requires the support of all EU member states and will impose a windfall tax on profits from frozen assets. The EU plans to use the resulting funds are estimated to be about 3 billion euros a year to supply weapons to Ukraine and promote Ukraine’s defense industry.

According to reports, about 260 billion euros of assets of the Russian Central Bank have been frozen by the G7, the European Union and Australia. Most of the frozen assets are securities and cash, of which more than two-thirds are frozen in the EU.

The report pointed out that this funding has become particularly critical as Ukraine faces an ammunition shortage problem and the approximately US$60 billion in aid planned by the United States still cannot be passed by Congress. (Compiled by Hu Xue)