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First tranche of revenues from Russian assets to be transferred to EC in August

"We are not going only to provide military support for Ukraine” but the EU is also going to buy weapons from this country, Josep Borrell noted

High Representative of the EU for Foreign Affairs Josep Borrell AP Photo/Geert Vanden Wijngaert

High Representative of the EU for Foreign Affairs Josep Borrell

© AP Photo/Geert Vanden Wijngaert

BRUSSELS, July 22. /TASS/. The first tranche of funds from expropriation of revenues from frozen Russian assets in the amount of 1.4 bln euro will be remitted to the European Commission during the first week of August, High Representative of the EU for Foreign Affairs Josep Borrell said at a press conference.

Funds are intended to be used to finance procurement for meeting key military needs of Ukraine, including air defense systems and artillery munitions, Borrell informed.

The money received will also be used to place orders with the Ukrainian defense industry. "We are not going only to provide military support for Ukraine” but the EU is also going to buy weapons from this country, Borrell noted.

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Military operation in Ukraine

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