The European Union plans to propose on Tuesday handing over the amount of $15 billion of profits generated from Russian assets frozen in the EU to Ukraine, the Financial Times reported on Monday, citing people familiar with the matter. If the proposal is approved, the money would be paid to Kiev in tranches between 2023 and 2027.
"It’s important to look at how we can use Russian immobilized assets and proceeds from those immobilized assets to support Ukraine," European Trade Commissioner Valdis Dombrovskis told the media outlet.
Additionally, the sources explained that all the EU member states will have to support the proposal, and further implement moves before the funds can be delivered to Ukraine.