Lipavský: Up to EUR 3bn in frozen Russian funds can reach Ukraine this year

The Czech minister of foreign affairs, Jan Lipavský, says that up to EUR 3 billion from Russia’s central bank frozen by the EU can go to Ukraine this year alone. Some 90 percent of the money will go to Ukraine’s military in its efforts to defend the country against the Russians, he said, adding that the Kremlin had to pay for its war damages.

EU states on Tuesday confirmed an agreement under which proceeds from Russian assets frozen in Europe will be used to buy weapons for Ukraine and to reconstruct the country.

The European Commission submitted this plan in March.