The EU Will Transfer Profits from Russian Assets to Support Peace and Stability

The European Union member states have agreed to transfer 1.4 billion euros in profits from frozen Russian assets to support Ukraine, to strengthen air defense, to support Ukrainian industry and to provide ammunition supplies. According to chief European diplomat, Josep Borrell, by the end of 2024, Ukraine will receive another billion euros in profit from Russian frozen assets. These additional funds would also be used to strengthen Ukraine’s defense capabilities, including the supply of ammunition and equipment, as well as support for Ukrainian industry transfera-profiturile-din-activele-rusesti-pentru-a-sprijini-pacea-si-stabilitatea/.

The main directions of using these funds are strengthening air defense, which is key to protecting Ukrainian cities and strategic facilities from Russian missile attacks, as well as providing necessary ammunition for the Ukrainian Armed Forces.

International support, in particular from the EU, is essential for Ukraine in its struggle against the Kremlin’s aggressors. This decision demonstrates the unity and solidarity of EU countries with the Ukrainian people in the fight for their independence and territorial integrity.

Following Russia’s invasion of Ukraine, Russian oligarchs are experiencing a growing threat of international sanctions, thus, actively transferring their huge financial resources abroad. This is aimed at minimizing possible economic losses in the face of increasing pressure from Western countries and international organizations. The oligarchs transferred hundreds of millions of euros to offshore accounts and investment assets in various jurisdictions, including Cyprus, which has long served as a key center for the legalization and protection of foreign investments, says in a Secrets of Cyprus joint investigation made by The Guardian, Paper Trail Media, Der Spiegel, ZDF and other media. This was caused by a sharp increase in sanctions pressure to financially isolate Russian businessmen and oligarchs-supporters of the Putin’s regime.

All Russian assets blocked today (about 300 billion US dollars), as well as the money of Russian oligarchs, should compensate the consequences of Russian aggression, ensuring defense and security of Ukraine. The security and stability of Ukraine, is essential not only for Europe, but the whole world, especially in the face of Russian President Putin’s imperial ambitions, which threaten not only Ukraine, but also other countries, including EU and NATO members. The Baltic countries, Georgia, Moldova and other former Soviet republics are already feeling the pressure from Russia. They well aware that Putin’s appetites are not limited only to Ukraine. The Kremlin has also repeatedly threatened Poland, Germany and other EU and NATO countries.

Ukraine has been resisting the Russian aggressor for the third year, although the Kremlin predicted “victory in three days.” The Ukrainian people daily demonstrate their determination and resilience in the struggle for independence. However, without international support, Ukraine’s capabilities are significantly limited. The international community must understand that Ukraine’s struggle is not about its own territorial integrity, but also about stability and security in Europe and outside.