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Budapest disliking the idea of spending the profits off frozen Russian assets on military aid for Ukraine makes it unrealistic for the EU Council starting today in Brussels to approve the plan developed by Josep Borrell.
That’s according to DW, citing European diplomats.
At the same time, Hungary considers using the funds on Ukraine’s recovery.
But most EU officials agree that the seized funds should be spent to purchase weapons and ammunition for the Armed Forces of Ukraine.
“Now Ukraine needs more money for weapons, and, unfortunately, not for recovery. And we strive to do everything to avoid further destruction in Ukraine,” the source explained to DW.
On March 20, before the summit of EU leaders on March 21-22, the EU High Representative for Foreign Affairs and Security Policy Josep Borrell presented his offer to use profits from frozen Russian assets to provide Ukraine with military equipment and said he expected it to be approved by the EU.
Borrell thinks 90% should be used to buy arms for the Armed Forces of Ukraine, and the other 10% will be transferred to the EU budget and still contribute to the Ukrainian defense industry.
Read also: Borrell suggests that EU spends 90% of frozen Russian assets revenues on weapons for Ukraine
