High Representative of the European Union for Foreign Affairs and Security Policy Josep Borrell said on Wednesday that he had presented to the EU Council an initiative to use income from frozen assets of the Russian Federation to help Ukraine.

"Today I presented a High Representative proposal for a Council decision to use the windfall revenues from Russian immobilised assets to support Ukraine in its fight to prevail," he wrote on the social network X.

Borrell said that his proposal envisages channeling 90% of the funds via the European Peace Facility and 10% via the EU budget. "I look forward to a rapid adoption by the Council," the diplomat added.

The day before, Western media reported that, according to Borrell, he proposes to use 90% of the revenues from Russian immobilised assets in Europe to purchase weapons for Ukraine. He said that he proposes that the remaining 10% is provided from the EU budget for their use to increase Ukrainian defense industry's potential.

It will be up to the EU member states to decide on these measures. The EU summit will take place on March 21-22 in Brussels.