Summit: The “frozen” Russian assets will become weapons against Putin – The first billion is being disbursed in July

The 27 EU leaders decided to move towards the use of extraordinary revenue from Russia’s “frozen” assets for its benefit , including the possibility of financing the European military support for Kiev. This is noted in the conclusions of the European Council on Ukraine. During an interview Press shortly after the end of the first day of the summit, the President of the European Commission, Ursula von der Leien, said the EU would likely be ready to withdraw the first billion (EUR) the profits of frozen Russian assets to support Ukraine already in early July. “There is indeed strong support for the use of superprofits by immobilised Russian assets for military purposes from Ukraine,” Ursula von der Leien said. “I told the leaders that if we move quickly now to complete the proposal, we could withdraw the first billion already on 1 July. So it is up to us, ‘if we move quickly’, the President of the Commission insisted. “I am sure that we can act very quickly and implement this mechanism,” said Charles Michel, President of the European Council. The European Council supported the proposal presented by the Commission and the Belgian Presidency assured that the intention is to work very quickly in this direction, said Charles Michel and added that it is important that we can use this money to buy defence equipment for Ukraine. As regards the need to shield European defence , the President of the Commission said that defence industry, as an industry in the single market, can be supported by the European Commission to strengthen the various sectors. Referring to the defence industrial strategy recently presented by the European Commission, Ursula von der Leien pointed out the possibility that Member States can proceed to joint supplies and better supplies. He also stressed that strengthening the industrial base would boost research and development in new technologies. “At the moment this is what we are trying to do, to have a mechanism that will not only have better supplies quickly,” he added. Ursula von der Leien said, finally, that the issue of European defence needs “full-time attention”. He therefore proposed to the next Commission that there should be a Commissioner for Defence, dealing precisely with this very important part of our common market.