The European Union on 3 August received €1.4 billion in windfall profits generated by the interest on the cash balances originating from immobilised assets of the Central Bank of Russia (CBR).
Following relentless Russian strikes on Ukraine’s energy infrastructure, the EU is deploying 447 emergency generators worth €3.7 million from EU strategic reserves to restore power to hospitals, shelters and critical services.
The EU Commission has adopted legislative proposals to secure continuous financial support to Ukraine in 2026 and 2027, with no let-up in the EU’s strong support for the country’s defence against Russia’s war of aggression.
EU leaders at a ‘Coalition of the Willing’ summit in Paris declared their readiness to commit to politically and legally binding guarantees for Ukraine which would be activated once a ceasefire enters into force.
EU leaders at their final summit of the year agreed to provide a loan to Ukraine of EUR 90 billion for the next two years instead of through Russia’s frozen assets, in view objection from the Czech Republic, Hungary, and Slovakia.
The EU Council has formally adopted the European Defence Industry Programme, designed to boost EU defence readiness by strengthening the competitiveness and responsiveness of Europe’s defence technology industrial base.
Borders must not be changed by force, proposed limitations on Ukraine’s armed forces are a concern, and the centrality of the European Union in securing peace for Ukraine must be fully reflected.
