The European Union plans to allocate 2-3 billion euros to Ukraine from the profits earned by the Euroclear depository from frozen Russian assets this summer. This was reported by the Financial Times.


The European Commission's plan envisages the confiscation of sanctions-related profits and the possible allocation of the first tranche of funds as early as July, if Brussels can get approval from member states. The proposal will be submitted to the EU leaders' summit next week.


European Commission President Ursula von der Leyen has called for the funds to be used for military support rather than post-war reconstruction, which has provoked debate in some capitals.


This year, Ukraine can receive from 2 to 3 billion euros, depending on interest rates. According to EU officials, the total profit from Euroclear could reach 20 billion euros by 2027.


It is noted that these funds can be used to purchase weapons for Ukraine through the existing fund, the overflow of which is being discussed among member states in the amount of 5 billion euros, or to invest in the Ukrainian defense industry.


According to a draft internal proposal by the European Commission, Brussels could allocate 97% of the net profit from the frozen Russian assets of Euroclear and transfer it to the EU budget.