The EU has approved a mechanism by which Ukraine will receive € 35 billion at the expense of Russia

The ambassadors of the member states of the European Union have previously developed and agreed on a mechanism by which Ukraine will be granted a loan of € 35 billion from the proceeds from frozen assets of Russia. This was announced on October 9 by the Hungarian mission to the EU.

"Today, the permanent representatives agreed on a written procedure for the adoption of a number of acts concerning the use of income from Russian assets for servicing and paying off loans," the representative office said in a statement on the social network X (ex. Twitter).

It is specified that the written procedure and final approval will begin after the approval of the project by the European Parliament.

Earlier, on September 17, the Financial Times newspaper reported that the European Union was preparing to provide Ukraine with new loans worth up to 40 billion euros, regardless of the participation of the United States and Hungary's continuing veto on the extension of the freezing of Russian assets.

Before that, on September 16, the Politico newspaper stated that most of the EU countries support the idea of freezing the assets of the Central Bank of the Russian Federation for transfer to Ukraine for 36 months instead of six. The option of freezing assets for five years with a revision of the decision every 12 months was also considered, Izvestia reminds.