Ukraine will receive the first 1.4 billion of Russia's frozen assets at the beginning of August

Ukraine should receive the first part of the frozen Russian assets already in early August. The money will go to air defense, shells and military equipment.

The high representative of the European Union Josep Borrell said this on Monday, July 22, emphasizing that he had already informed the ministers on this issue.

«Regarding earnings, I informed the ministers about the progress in the preparation of the first transfer of 1.4 billion euros, which is expected to take place at the beginning of August, next week,» the Euro diplomat clarified.

Borrell added that the EU plans to use these funds to finance the purchase of priority military equipment for Ukraine. In particular, it is about air defense, ammunition for artillery, as well as purchases for the Ukrainian defense industry.

«In this way, we are going to not only provide military support to Ukraine, but also receive it from Ukraine itself, which is certainly the most logical and effective thing we can do,» he said.

We will remind that before this, the President of the European Commission, Ursula von Der Leyen, said that the first 1.5 billion euros of income from frozen Russian assets will be transferred to the accounts of Ukraine already in July.