EC to give Ukraine first €1.5bn of proceeds from Russian assets in July

The European Commission is set to give Kiev €1.5bn of proceeds from frozen Russian assets in July, with 90 per cent of the amount to be spent on arms.

This was announced by the head of the European Commission Ursula von der Leyen, TASS reports.

“Already in July, the first €1.5bn of revenues from the reinvestment of Russian assets will be available for Ukraine, 90 per cent of which will be used for weapons,” she said.

Earlier, von der Leyen said she intends to work in the European Parliament with those who support Ukraine.

She is also convinced that the new majority in the EP will be “pro-European and pro-Ukrainian”.