The European Commission has proposed to send Ukraine the proceeds of the frozen Russian assets in the EU.
According to Reuters, the amount of income could be between 2.5 billion and 3 billion euros per year.
According to the European Commission's proposal, which is yet to be approved by EU leaders at the upcoming summit in Brussels, 90% of this amount will be used to buy weapons for the needs of the Ukrainian Armed Forces, and the rest will be used to rebuild the country.
The exact amount of income will depend on interest rates, as about 210 billion of the frozen assets of the Central Bank of the Russian Federation are held in accounts of different EU countries in different currencies, Reuters notes.
Ukraine also has to receive funds annually that the Belgian government (where the Euroclear settlement centre is located) receives in the form of a 25% tax on asset income, the agency writes. In 2024, this amount will be €1.5 billion, Reuters adds.
The Russian Foreign Ministry said that the transfer of income from frozen Russian assets to Ukraine is "direct banditry and theft."
The United States, Europe and allies wanted to agree on the confiscation before the February meeting of the Group of Seven, but failed. The next deadline is the summit of leaders of developed democracies in Italy in mid-June.