Ukraine will receive the second tranche of EU aid from the proceeds of Russian Federation assets by March 2025

, promises the head of European diplomacy, Josep Borrell. He also notes that the European Union has already allocated the first €1.4B tranche of revenue from frozen Russin assets through the European Peace Fund to provide military support for Ukraine.

Part of this sum will go directly to Ukraine “to give impetus to the Ukrainian defense industry.” At the end of May, EU countries agreed on a plan to use profits from frozen Russian assets to help Ukraine: 90% of the funds will go to the European Peace Fund for the purchase of weapons for Ukraine, the remaining 10% will go to other Ukrainian EU programs.

As well, central depositories in EU countries will be allowed to temporarily keep a share of the profit received from frozen Russian assets of about 10% to maintain the authorized capital and compliance with risk management requirements in view of the Ukrainian war’s impact. Income from frozen Russian assets is estimated at €3B per year.