EU diplomats agreed Wednesday to use income from frozen Russian state assets to aid Ukraine – paving the way for the war-torn country to get around €3 bn for arms purchases and reconstruction before the summer.

The deal was agreed “in principle” at a regular meeting of national representatives, according to a tweet by Belgium, currently chairing talks in the European Council.

The final deal allows Euroclear to keep a provisional buffer worth 10% of the profits, in case of litigation over the funds. It can also keep 0.3% as an incentive, while 90% of the funds will be sent via the European Peace Facility to help Ukraine buy weapons.


A little for you — a little for me — life is grand when money is free….but….is it an oxymoron when a “Peace Facility” buys weapons??