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Belgium to send 1.7 billion euros from frozen Russian assets to Ukraine's support

Wednesday, 11 October 2023, 14:49
Belgium to send 1.7 billion euros from frozen Russian assets to Ukraine's support

Belgium has created a special fund to support Ukraine in the amount of EUR 1.7 billion, which is filled from taxation of Russian assets frozen in the country.

Source: Alexander De Croo, the Prime Minister of Belgium, at a joint briefing with Volodymyr Zelenskyy, the President of Ukraine, as reported by European Pravda.

De Croo said that Belgium will continue to support Ukraine in three directions, the first two of which are military aid and economic sanctions.

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Quote: "The third is the creation of a Fund of Ukraine of EUR 1.7 billion euros... The source of this fund will be billions of Russian assets frozen in Belgium. Belgium has taxation on the profits of these frozen assets. Last year it was absolutely clear to us that the taxation of the profits of these assets has 100% to benefit the people of Ukraine.

We did it last year, and we will do it again this year through an EUR 1.7 billion fund. This fund will be used to purchase military equipment, humanitarian support, the European Peace Facility, macro-financial assistance, etc.," the Prime Minister said.

Background:

  • Belgian Defence Minister Ludivine Dedonder announced that the country would send several Belgian F-16 fighter jets to Ukraine, starting from 2025.
  • On 11 October, President Volodymyr Zelenskyy arrived in Brussels on an unannounced visit.

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