Leaders of EU member states on Thursday discussed a plan to use billions of euros of profits from frozen Russian assets to buy weapons and ammunition for Ukraine.
The plan seeks to use the interest earned from an estimated €200B ($217B) of assets belonging to Russia's central bank — frozen in a Belgian bank after the outset of Russia's war with Ukraine — and use it to plug the gap from the stall in US spending. The interest is expected to raise €3B ($3.3B) annually.
The EU is prepared to continue to keep pressure on Russia and hold the Kremlin accountable for its illegal acts of aggression and the massive suffering and damage it has inflicted. These funds are needed to protect the future of Ukraine and if we deprive them of the weapons they need, Putin and Russia won't stop there.
This is banditry and theft — pure and simple. The proposed step of using revenue from Russia's frozen assets to arm Ukraine in the conflict is yet another example of how the EU is degrading its own standards and violating its commitments to international law.