EU Proposes Using Frozen Russian Assets to Fund Military Aid for Ukraine
The European Union (EU) is considering a bold plan to repurpose profits from frozen Russian assets, aiming to raise over $2 billion annually in military aid for Ukraine. This initiative comes amidst the ongoing conflict in Ukraine, with the EU seeking to bolster Ukraine's defenses against Russian aggression. The proposal involves imposing a 97% windfall tax on the interest earned by Russian funds currently held in a Belgian clearing house. These funds, originally intended for Ukraine's post-war reconstruction, are now being redirected to support Ukraine's military efforts. The EU's plan underscores its commitment to Ukraine's sovereignty and territorial integrity. By repurposing frozen assets, the EU aims to provide Ukraine with the resources needed to defend itself against Russian incursions. The decision to divert funds from reconstruction to military aid reflects the escalating tensions in the region. With EU leaders set to discuss the proposal, the move signif