European Union leaders arrived at a summit on Thursday to discuss whether to use billions of euros in profits from frozen Russian financial assets to buy arms for Ukraine as they try to bolster Kyiv in its fight against Moscow's invasion.
BRUSSELS — European Union leaders arrived at a summit on Thursday to discuss whether to use billions of euros in profits from frozen Russian financial assets to buy arms for Ukraine as they try to bolster Kyiv in its fight against Moscow's invasion.The European Commission, the EU's executive body, this week proposed taking profits from Russian assets frozen in Europe after Moscow's invasion and transferring 90% to an EU-run fund used to finance arms for Kyiv.
"I think it's a sensible way of doing it," he told Reuters.No final decision is expected at the summit. But leaders will indicate how the EU should proceed with the proposal.'War footing'The bloc's 27 national leaders will also debate how Europe can do more to defend itself and boost its arms industry, reflecting fears that Russia may not stop at Ukraine and the US may not be such a staunch protector of Europe in future.
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