The EU can allocate €6-€8B a year to Ukraine from revenues sourced from frozen Russian assets.

The Ukrainian ambassador to the EU, Vsevolod Chentsov, said that the EU has about €200B out of the total €300B of frozen Russian assets. It is difficult to transfer the assets outright to Ukraine, owing to the norms of international law and the jurisdictional immunities of the Russian Federation.

While the EU and G7 states are consulting on legally removing these obstacles, the European Commission has proposed using the proceeds these assets generate at the December EU summit.

As Chentsov noted, taking 3%-4% per annum from €200B in assets can be €6-€8B per year.

“I think the European Council will promptly approve the proposal to use these funds,” he said.

In approved, further discussions will take place to determine through which instrument these funds should be directed and where they should be applied.