Russia warns the European Union as it has transferred 1.5 billion dollars from frozen Russian assets to Ukraine. This fund is obviously going to help Ukraine’s war effort against Russia. And this news is not going to make Russian President Vladimir Putin happy.
RUSSIA WARNS THE EUROPEAN UNION AND CALLS AS “THIEVES”
From the beginning of the war between Russia and Ukraine, the European Union has always condemned Russia’s decision of war against Ukraine. And the EU has always tried to force Russia in any way to stop the war. The Russian president has always warned the EU to stay away from the conflict between Russia and Ukraine.
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The recent transfer of 1.5 billion from frozen Russian assets to Ukraine is going to fuel Ukraine’s military and reconstruction needs and to buy the essential equipment to fight the war against Russia.
On the other hand, Russia has condemned the European Union’s step to freeze the assets, called the step as illegal, and warned the EU of retaliation several times.
This is the first time the EU has used the Russian fund to aid Ukraine in fighting the war against Russia. The EU foreign policy chief Josep Borrell announced the 1.5 billion transfer in August. The chief claimed that this fund would help to strengthen Ukraine’s military and finance the Ukrainian industry.
Now you may have a question about the frozen Russian assets. Actually, these funds come from interest on frozen Russian Central Bank assets held by the EU.
EU FOREIGN POLICY CHIEF JOSEP BORRELL ON THE FUND TRANSFER:
Borrell of the EU fund says “We have started using the revenues from windfall profits from frozen Russian assets. They have already been sent to Ukraine and sent to the member states who will provide with this money more military equipment to Ukraine”. And he also added “Until now the European peace facility was reimbursing the money to the member states that provided support to Ukraine”
He also said that “now this money comes from the Russian frozen assets..For the first time, we are directly financing the uranium industry.”
Borrell claims that frozen assets have allowed the EU to give money directly to Ukraine.
The Western States froze an estimated 300 million dollars in Russian assets after the Ukraine conflict began. The European Union announced in July that 1.6 billion Euros from interest on frozen Russian assets would go to Ukraine.
But on the other hand, Moscow has condemned the step of the United Union and called it illegal and threatened retaliation if funds are seized. Russia has also warned of the legal consequences.