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Anti-Russian sanctions

Profits from frozen Russian assets to help Ukrainian air defenses — Dutch minister

The EU, US, Canada and Japan have frozen about $300 billion of Russian assets since the start of the special military operation

THE HAGUE, June 24. /TASS/. The 1.4 billion euros in profits earned from frozen Russian assets will be used to help Ukrainian air defenses, among other things, Acting Dutch Foreign Minister Hanke Bruins Slot said.

"Good and important step: the EU member states have agreed to use windfall profits stemming from Russia’s immobilized assets for additional military support for Ukraine through the European Peace Facility. The first tranche of 1.4 billion euros will become available this summer. The funds will be added to the European Peace Facility and used for the financing of crucial military equipment like ammunition, artillery systems, air defense missiles and air defense systems for Ukraine," she said on X.

The EU, US, Canada and Japan have frozen about $300 billion of Russian assets since the start of the special military operation. About $5-6 bln of these assets are in the US, but most of them are held in Europe, including by the Belgium-based financial services company Euroclear (which holds $210 bln).

Russian Foreign Ministry Spokeswoman Maria Zakharova said Moscow would immediately take retaliatory steps. She described the West's plans to use the proceeds, which are earned from frozen Russian assets, for the benefit of Ukraine as cynical and criminal.

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