The Council of the European Union today adopted a set of legal acts ensuring that the net profits stemming from unexpected and extraordinary revenues accruing in the EU as a result of EU restrictive measures against Russian assets will be used for further military support to Ukraine, as well as its defence industry capacities and reconstruction.
This means that the EU central securities depositories (CSDs) holding Russian sovereign assets and reserves of more than €1 million will make a financial contribution from their corresponding net profits, accumulating since 15 February 2024.
The amounts will be paid by the CSDs to the EU on a bi-annual basis, and will be used for further military support to Ukraine through the European Peace Facility (90%), as well as with support to Ukraine’s defence industry capacities and reconstruction needs with EU programmes (10%).
This allocation will be reviewed yearly, and for the first time before 1 January 2025.
Find out more
News
-
EU announces €65 million pledge to support Ukraine’s school nutrition reform
-
EU boosts defence readiness with first ever financial support for common defence procurement
-
EU launches Call for EU business to invest in Ukraine’s recovery and reconstruction
-
COP29 in Baku: EU to support continued global climate action and push for ambitious finance and investment goals
-
EU and UNDP restore Serhiivskyi Lyceum in Odesa Oblast, enabling students from 12 communities to attend school in person
-
EU supports waste management project in Fastiv