EU Seeks New Ways to Help Ukraine

Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union.

The European Union is moving forward on various fronts to maintain support for Ukraine, but the bloc’s attempts have fallen short in the face of the increasingly challenging situation on the battlefield as ammunition runs dangerously low. The European Commission is expected to put forward the negotiating framework today to advance on the process for Kyiv's accession to the bloc, while a €4.5 billion payment will be sent in the coming days to support the Ukrainian budget. In addition, the EU’s executive arm may propose allocating revenues obtained from a windfall tax on profits generated by frozen Russian central bank assets for Ukrainian military needs as early as this week — an issue that will be discussed by EU finance ministers today.