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EU agrees to use profits from frozen Russian assets for Ukraine

Ukraine's President Volodymyr Zelenskiy attends a joint press conference with NATO Secretary-General Jens Stoltenberg, amid Russia’s attack on Ukraine, in Kyiv, Ukraine, April 29, 2024. REUTERS/Thomas Peter/File Photo

Julia Payne and Andrew Gray

EU ambassadors have agreed on a law to use windfall profits generated from Russian central bank assets frozen in the bloc for Ukraine's defence, Belgium said in a post on X on Wednesday.

European leaders still need to approve the text that will see 90pc of the proceeds go into an EU-run fund for military aid for Ukraine, with the other 10pc going to support Kyiv in other way, four EU diplomat sources said.

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