E.U. foreign ministers agree to use revenues from frozen Russian assets to help Ukraine, says E.U. foreign policy chief

E.U. foreign ministers have agreed to use revenues from frozen Russian assets to assist Ukraine, stated E.U. foreign policy chief Josep Borrell during a press conference.

Borrell said he was confident that work on the matter would soon be finalized. He added that he expects an official decision before the next meeting of E.U. foreign ministers, which is scheduled for February 19.

Russian authorities estimate that around $300 billion of the Russian Central Bank’s assets were frozen in Western countries after the start of the full-scale war in Ukraine. The U.S. and E.U. have been discussing their potential use since 2022.