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EU approves first tranche of military aid for Ukraine from income on frozen russian assets – media 06/24/2024 17:35:04. Total views 158. Views today — 0.

On June 24, EU countries approved the first tranche of military aid for Ukraine, amounting to up to €1.4 billion, sourced from the income generated by frozen russian assets. This was reported by Politico, citing four diplomats, and by Radio Liberty correspondent Rikard Jozwiak, as informed by Hromadske.

The report notes that the funds will be allocated through the Ukraine Assistance Fund, but payments were initially blocked by Hungary. However, the legal service of the EU Council now asserts that Budapest cannot halt these payments, as it abstained from voting on the Fund's creation earlier this year. Officials explained that the bypass was possible because the funds are not derived from taxpayers.

The final amount to be received by Kyiv is yet to be determined, but diplomats estimate it to be between €1.2 billion and €1.4 billion. The funds will ensure direct purchases for the military, specifically for ammunition and air defense systems. A quarter of the amount will be used to procure goods from Ukrainian industries.

According to the publication, countries were required to express their stance on the tranche by 11:00, and none voted against it. The decision did not require unanimity, meaning Hungary could not block it.

Despite today's agreement, Hungary continues to block the payment of €6.6 billion for the Ukrainian Armed Forces as partial reimbursement for arms purchased for Ukraine. One diplomat mentioned that Budapest is "furious" about today's developments.

It is expected that the officially agreed tranche will be announced later in the day at the EU Foreign Ministers' meeting in Luxembourg.