EU agrees to use frozen Russian assets for Ukraine's defense

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EU agrees to use frozen Russian assets for Ukraine's defense

STORY: EU agrees to use frozen Russian assets for Ukraine's defense SHOOTING TIME: May 21, 2024 DATELINE: May 22, 2024 LENGTH: 00:01:41 LOCATION: Brussels CATEGORY: POLITICS SHOTLIST: 1. various of the European Commission Berlaymont building 2. various of the Europa and Justus Lipsius building STORYLINE: The Council of the European Union (EU) announced on Tuesday that ministers from EU member states have agreed to use proceeds from frozen assets of the Central Bank of Russia (CBR) to support Ukraine's military efforts. Under the agreement, 90 percent of the profits from these assets will be allocated to the European Peace Facility, an EU-run fund providing military aid for Ukraine. The remaining 10 percent will bolster Ukraine's defense industry capacities and reconstruction needs. "Up to 3 billion euros (3.26 billion U.S. dollars) this year alone, 90 percent goes for Ukraine's military," Czech Foreign Minister Jan Lipavsky stated on social media platform X. According to data from the Council,

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