Borrell insists on directing 90% of the income from the Russian Federation’s assets to Ukraine.

The EU’s high representative, Josep Borrell, said that 90% of the proceeds from the Russian Federation’s frozen assets should be directed to the European Peace Fund, which purchases weapons and ammunition for Ukraine, and another 10% to the EU budget.

“It is not about assets per se, but about income from capital. Probably, over time, other measures can be taken that will be justified from a legal point of view,” he said.

According to him, Ukraine urgently needs weapons and ammunition for self-defense and to protect its people from Russian aggression.

“From the beginning, we envisioned using these revenues to support the recovery and reconstruction of Ukraine. But I believe that before thinking about reconstruction, we must first consider how to avoid destruction,” Borrell said.

He added, “Such a proposal comes from the EC and me personally”.

This decision must be adopted by the EU Council before it can be applied. The EU Council is currently discussing this issue.