The EU Council has agreed on a decision to provide Ukraine with EUR 1.4 billion of windfall income from frozen Russian assets, says EU High Representative for Foreign and Security Policy Josep Borrell.

Following the meeting of the European Council on Foreign Affairs, he said that the ministers today had agreed on a legislative framework for the use of windfall revenues from immobilized Russian assets, which will be sent to the European Peace Facility ... But, according to him, windfall revenues from Russian assets frozen in Europe, not assets directly, will be used as soon as possible in the interests of Ukraine, EUR 1.4 billion will be available next month and another billion by the end of the year.

According to him, these funds will be provided to Ukraine for the implementation of three goals: air defense, ammunition and support for Ukrainian industry. He said they realize from a legal point of view that one member state does not participate in deciding how to use these funds, then it does not have the right to participate in deciding what purposes they are aimed at. Without this blocking, the work will be accelerated. The leaders will discuss the unblocking of funds for the Peace Facility at the next meeting of the European Council.

According to him, regarding the situation with the blocking of the European Peace Facility, the ministers came out of the council meeting with the same thing that we came with regarding the point of view on seven legislative acts to unblock the European Peace Facility. However, he said, there is still one country that blocks the use of about EUR 6 billion of the European Peace Facility. This is Hungary.