The EU has transferred €4 billion ($4.7 billion) from frozen Russian assets to Ukraine, with another €2 billion earmarked for UAV production.
"The European Commission has disbursed the ninth tranche of its exceptional Macro-Financial Assistance (MFA) loan to Ukraine, worth €4 billion, further reinforcing the EU's role as the largest donor since the beginning of Russia's war against Ukraine, with overall support approaching €178 billion. Specifically, €2 billion of today's disbursement will be allocated for drones, in line with a mutual agreement between the EU and Ukraine," the statement said.
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The Kremlin warned European leaders on Wednesday that Russia would pursue any individual or country which stole its money and cautioned that the theft of Russian assets would badly rebound on European depositories and investment.
ReplyDeleteThe European Union is mulling a proposal to use Russian assets frozen in Europe to fund a loan of 140 billion euros ($164.37 billion) to Ukraine.
The Ukraine conflict has triggered a “gold rush” for EU arms manufacturers amid a boom in weapons technology investment, with the battlefield becoming a testing ground for innovations, the New York Times reported on Tuesday.
ReplyDeleteAccording to the outlet, Western governments are channeling billions into warfighting and dual-use startups to accelerate the move from prototype to combat, diverting capital away from traditional defense contractors.
The NYT cited the example of Munich-based Helsing, which has armed Ukraine with drones and upgraded them every few weeks to counter battlefield shifts. Founded in 2021 with seed backing from Spotify co-founder Daniel Ek, Helsing is now valued at about $12 billion, making it one of Europe’s most valuable startups.
The European countries will answer in court for the use of immobilized Russian assets, and will eventually have to return everything, said Leonid Slutsky, the head of the State Duma’s international affairs committee and the leader of the LDPR Party.
ReplyDeleteEarlier, the European Commission (EC) allocated a new four-billion-euro tranche for Ukraine from the seized Russian assets. According to the Commission, funds will be directed to support the defense sector, with two billion euro earmarked to buy drones.