Russia has accused the European Union of “theft” after the bloc announced the first installment of aid for Ukraine, funded by frozen Russian assets. The European Union aims to use these funds to enhance Kyiv’s military capabilities. The Group of Seven major industrialized countries (G7) is planning a similar scheme. Experts fear that some Western states may reduce their aid to Ukraine.
The European Union announced on Friday that it has provided $48 billion in military aid to Ukraine since the start of the Russian aggression in 2022.
The bloc will also provide military and civilian aid to Ukraine using confiscated Russian assets valued at around $300 billion.
“We will provide the first installment for Ukraine from the frozen Russian assets. It is about $1.55 billion. A portion of this amount goes directly to Ukraine to boost its defense industry. By March, we will provide the second installment,” said Josep Borrell, the EU’s Foreign Policy Chief.
Moscow said that the transfer of money to Ukraine from frozen Russian assets is “theft” and warned of legal consequences.
The Group of Seven major industrialized countries, or G7, has also agreed to use frozen Russian assets to provide aid to Ukraine, although this scheme has not yet been finalized.
Germany announced this month that it might use the G7 mechanism to replace its military aid to Ukraine, as Berlin is seeking to cut expenses. Germany is Ukraine’s second-largest donor after the United States.
“The political signal it sends is devastating. Europe’s largest donor, Germany, suddenly halts support for Ukraine. The idea of using G7 mechanisms was to communicate to Vladimir Putin that the West will not give up, that he cannot hope the West will stop its support at some point. This is a contradictory sign now, suddenly Ukraine’s funds are cut off from the budget,” says Liana Fix from the Council on Foreign Relations.
Chancellor Olaf Scholz insists that Germany will support Ukraine for as long as necessary.
Meanwhile, the European Union has called on member states and Western allies to lift restrictions on Ukraine using long-range missiles to target objectives within Russia.
