EU allocates EUR 1B from windfall profits on Russian assets to support Ukraine's defense industry – Umerov
Ukrainian Defense Minister Rustem Umerov announced the decision on Facebook, according to Ukrinform.
"The EU has allocated EUR 1 billion from windfall profits of frozen Russian assets to support Ukraine's defense industry. Today, the European Commission signed the corresponding agreement with the governments of several European countries," he said.
According to Umerov, this strategic decision will enable the expansion of a wide range of weapons production for the Ukrainian Defense Forces, including drones, ammunition, and other critically needed means.
"It is not only a boost to Ukraine's defense capabilities but also an investment in the development of our own industry. We are becoming more self-reliant and stronger," Umerov said.
He stressed that the use of Russian assets to support Ukraine is a vital step toward restoring justice and lays the groundwork for future reparations that must result from the war launched by Russia.
Umerov also recalled that in total, the EU has announced EUR 3.3 billion in windfall profits from frozen Russian assets will be allocated to military aid for Ukraine in 2024-2025. Part of these funds will be directed toward strengthening our air defense system.
"Sincere thanks to the European Union and its member states for their trust, leadership, and support in our joint struggle for peace and security in Europe," Umerov concluded.
The European Union previously announced its intention to provide nearly EUR 1.9 billion in military aid to Ukraine, including for the purchase of weapons, artillery, and air defense reinforcement.
