EU Leaders Propose Using Interest from Frozen Russian Assets for Ukraine Aid and Tariffs on Russian Grain


European Union leaders have concluded a two-day summit with significant decisions aimed at supporting Ukraine amidst its ongoing conflict with Russia. The leaders announced proposals to impose tariffs on Russian grain and plan to utilize interest from frozen Russian Central Bank assets in Europe to purchase more weapons for Ukraine. This decision has been met with threats from Russia, labeling the move as theft. Despite these threats, EU leaders expressed determination to continue their support for Ukraine and counter Russia’s actions, emphasizing that it is just for the revenues from these frozen assets to be used in aid of Ukraine. Additionally, the EU aims to prevent Russia from gaining any revenue from the EU’s agricultural food market, particularly through grain sales.
  • EU leaders plan to use interest from frozen Russian assets to purchase weapons for Ukraine.
  • Proposals include imposing tariffs on Russian grain to counteract Russia’s aggression and support Ukraine.
  • Russia has threatened the EU with repercussions, calling the move theft and banditry.
  • The EU is aligned with G7 partners in increasing pressure on Moscow, with proposed tariffs on Russian agricultural exports.
  • Approximately 90% of the funds, amounting to 3 billion EUR, will be spent on military aid for Ukraine.
  • There are tensions within the EU, particularly concerning the import of Ukrainian grain, which has caused discontent among European farmers.
  • The European Commission aims to prevent Russia from funding its war efforts with revenues from grain exports to the EU.
  • Despite Russia’s warnings, most EU leaders support the measures, though some, like Hungarian Prime Minister Victor Orban, express doubts.

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