Umerov discusses with Borrell three areas that will be financed from 1st aid tranche from income from Russian assets
Minister of Defense of Ukraine Rustem Umerov met with EU High Representative for Foreign Affairs and Security Policy Josep Borrell.
"Firstly, I would like to thank the EU for the important decision on the use of income from frozen assets of the Russian Federation. On May 21, 2024, the EU Council decided to send 90% of the frozen assets of the Russian Federation to the Ukraine Assistance Fund, which is part of the European Peace Facility. These funds will be used for the defense needs of Ukraine," Umerov wrote on the Telegram channel of the Ministry of Defense.
He emphasized that the total amount of interest will be EUR 2.5-3 billion annually. The first tranche of EUR 1.4-1.5 billion will become available in early August 2024.
"The EU and Ukraine agreed that the first tranche will be spent in three areas: ammunition, air defense systems, and support for Ukrainian manufacturers. It is important to note that goods financed by the EU must be delivered to Ukraine by the end of 2024," Umerov emphasized.
He noted that "these decisions are extremely important for strengthening our defense capabilities and supporting Ukrainian manufacturers." He also thanked "the EU for its support and solidarity with Ukraine at this critical time."