European Commission ready to discuss use of Russian assets for Ukraine with EU countries - vice president

BRUSSELS. March 12 (Interfax) - The European Commission intends to discuss the use of frozen Russian assets in Ukrainian interests with European Union members, Executive Vice President of the European Commission Valdis Dombrovskis said.

"After Council unanimously adopted our windfall profits proposal, we have the legal clarity and conditions to allow the use of these revenues to support Ukraine. We are fully committed to moving forward with the next step, to allow redirecting these revenues to the EU budget for the benefit of Ukraine. This will now be discussed with the member states," Dombrovskis told a press conference in Brussels on Tuesday after a meeting of the EU Economic and Financial Affairs Council.

He said he had just returned from a trip to Kiev where he discussed the situation around EU support for Ukraine.

"The Ukraine Facility entered into force at the start of this month, which paves the way for a 4.5 billion euro payment of bridge financing, foreseen later this month. And we expect to make another 1.5 billion euro payment in April," Dombrovskis said.

The European Commission intends to "help reduce Ukraine's financing gap, with stable and predictable EU payments through to 2027," he said.

On February 12, the Council of the EU announced its decision clarifying the obligations of central securities depositories holding the Russian Central Bank's assets and reserves frozen in consequence of EU restrictive measures.