EU Offers Plan to Use Profits of Frozen Russia Cash for Kyiv
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The European Union’s top diplomat offered a plan Wednesday to use proceeds from sanctioned Russian central bank assets to help fund Ukraine’s military needs.
Josep Borrell sent a proposal to member states that would send 90% of the windfall revenue to the European Peace Facility, which is used primarily to reimburse governments for military purchases bound for Ukraine, he said in a post on X. The remaining 10% would be sent to the regular EU budget, he said.