MOSCOW, April 5. /TASS/. The Ukrainian authorities expect the European Union to hand over to them 5 to 8 bln euro worth of revenues received from Russian assets frozen in EU countries this year, Deputy Head of the Office of the President Irina Mudraya said.
"We expect them [transfers to Ukraine from revenues from Russian assets frozen in the EU - TASS] to total from 5 to 8 bln euro," she said in an interview with RBC-Ukraine.
After EU countries blocked Russia’s funds in 2022, the Euroclear depository "accumulated 5.2 bln euro worth of revenues, including 4.4 bln worth of revenues for 2023, and 825 mln euro for 2022," Mudraya noted. "When the European Commission discussed issues of transferring surplus profit to Ukraine, a decision was made that this would probably happen starting 2024. Thus, all revenues generated by the end of this year could be transferred to Ukraine if the European Union passed respective legislation. We expect such a decision shortly," she stressed.
Earlier, the European Commission greenlighted a proposal on using revenues from blocked Russian funds for aid to Kiev. EU High Representative for Foreign Affairs and Security Policy Josep Borrell said that the initiative meant using 90% of Russia’s revenues to purchase shells for Ukraine and putting the other 10% into the EU’s budget for further support of Ukraine’s military and industrial complex. The first transfer could be made as early as in July. Russian Central Bank Governor Elvira Nabiullina said earlier that if the West used frozen Russian assets the Bank of Russia would take respective measures to protect its interests.