Brussels aims to fast-track up to €3bn for Ukraine from frozen Russian assets
First tranche of profits from Euroclear could be available as soon as July, if EU capitals approve
Brussels is pushing to give Ukraine €2bn-€3bn this year from profits derived from Russia’s frozen assets, accelerating the funding plan as US financial support to Kyiv wanes. The European Commission is preparing a plan, according to officials, that would involve seizing sanctions-related profits, dating from February onwards, earned at the central securities depository Euroclear.
After months of wrangling, a first tranche of money could be disbursed as early as July if Brussels can secure approval of member states, officials said. The proposal is expected before a summit of EU leaders next week.
