The EU was allowed to use income from Russian assets in favor of Ukraine: when the first money arrives

The European Commission stated that in 2024, all the funds received from Russian assets will send to the work of the Ukraine Facility mechanism. Ukraine can receive the first money from income from Russian frozen assets in the EU in July this year. This was reported on May 21 in the European Commission. It should be noted that the European Council was greeted in the European Commission, which approved the use of income from frozen assets of Russia in favor of Ukraine.

Vice Chairman of the European Commission Valdis Dombrovskis greeted this decision. "The speed remains a key factor. And the commission will continue to make every effort to make the first payment in July," he said. At the same time, the European Commission noted that the decision would come into force only after publication in the EU official journal. "Resources will be available to support Ukraine, starting July 2024, with payments twice a year," the message reads.

The European Commission reported that in 2024, all the funds received from Russian assets by the European Union will send to the operation of the mechanism of Ukraine Facility to support extraordinary rehabilitation, restoration and reconstruction. However, Ukraine's most remedial needs can be met through the European Peace Fund (EPF) and through the European Defense Program (EDIP). "Solutions make it possible to determine the priority of needs that may change over time.