EU has found way to use revenue from frozen Russian assets - Borrell's spokesperson

BRUSSELS. June 26 (Interfax) - The European Union member states have found a way to solve legal problems in using revenues from frozen Russian assets to provide military support to Ukraine, Peter Stano, spokesperson for High Representative of the EU for Foreign Affairs and Security Policy and European Commission Vice President Josep Borrell, said on Wednesday.

"The solution has been found [...] to use the proceeds from the Russian frozen assets. It was found, and Ukraine should receive the 1st tranche of 1.4 billion euros in the next weeks in the course of the next month. So, the solution is there, the situation has been solved, the money will be flowing," Stano said at a press briefing in Brussels when asked whether there are guarantees that these extraordinary proceeds could now be used safely.

Without providing details of the solution, Stano said the EU Foreign Affairs Council addressed the matter at its meeting in Luxembourg on June 24.

Borrell said at that meeting that 1.4 billion euros could be forwarded to Ukraine next month and another 1 billion euros would be available to Ukraine by the end of the year to procure air defense systems and ordnance and to support the Ukrainian defense industry.