More and faster: EU to finalise agreement on immobilised Russian assets soon, Borrell says

EU Foreign ministers, convened in Brussels for the Council on 22 January, agreed that this “is not the moment” to weaken the EU’s support to Ukraine, EU High Representative said after the Council. The Foreign Council started with an update from the Ukrainian Foreign Minister Dmytro Kuleba via video conference on the latest developments on the ground. 

“By the contrary: it is the moment to do more and faster […] With financial resources, with military equipment, by training soldiers, and all [that] Ukrainians need to defend [themselves],” said Borrell. 

He added that the EU would continue working to provide predictable assistance to Ukraine, including through a €5 billion top-up of the European Peace Facility that will allow the establishment of a Ukraine Assistance Fund.

“We presented a non-paper in order to make clear to the Member States how the European Peace Facility will work in this new stage, in this new moment,” said Borrell. “I hope that it will be ready, and all Ministers considered that it was a good basis to review the work of the European Peace Facility under the ‘Ukraine Assistance Fund’.” 

Concerning immobilised Russian assets, Borrell said there was political agreement to finalise work on the basis of the proposal tabled in December, focusing on the revenues. “Discussions will continue at the level of Ambassadors, but I see that the agreement is coming. And I make a strong push for this decision to be taken before the next Foreign Affairs Council,” said Borrell.

He also announced that he would travel to Ukraine in the first or second week of February. 

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