BRUSSELS: The European Union on Friday (Jul 26) said €1.5 billion (US$1.6 billion) had been made available to support Ukraine, the first chunk of money earned from profits on R
1.5 billion had been made available to support Ukraine , the first chunk of money earned fromEU member states had agreed in May to use billions of euros in profits from frozen Russia n central bank assets to help arm Ukraine and fund its post-war reconstruction.
About 90 per cent of the funds frozen in the EU are held by Belgium-based international deposit organisation Euroclear. "There is no better symbol or use for the Kremlin's money than to make Ukraine and all of Europe a safer place to live," she added.The money comes from interest generated from the frozen Russian funds, not the funds themselves, which remain locked away from Moscow.
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