According to EU High Representative for Foreign Affairs Kaja Kallas, the European Union expects that by the end of the year, European countries will have delivered 2 million artillery shells to Ukraine. The announcement follows discussions among EU member states on the use of proceeds from immobilized Russian sovereign assets to finance Ukraine’s defense needs.
“€2.1 billion will be disbursed by the end of this month to support Ukraine’s defense industry,” Kallas stated following the meeting.
The European Commission confirmed that it will receive €2.1 billion this week in income generated from frozen assets of the russian Central Bank. This will mark the second tranche, following the initial transfer in July 2024, and reflects profits accrued during the second half of 2024.
