The agreement in principle was reached during the European Council's spring summit in Brussels on Thursday and Friday.
As part of the sanctions against Russia, no less than 210 billion euros from the Russian Central Bank are currently frozen in the EU. The country invaded Ukraine in February 2022.
The EU has been trying for months to collect interest income from these funds. Belgium is of particular concern because it has a major financial institution called Euroclear, which facilitates money transfers.
War in Ukraine: Russia threatens EU with 'decades-long lawsuit' if frozen assets are used
The first step was taken in mid-February, when it was decided that EU funds should be accounted for separately by Euroclear and others. The European Commission went a step further on Wednesday and offered to collect part of the money thus tied up and use it for Ukraine's benefit.
He proposed transferring the majority (90%) to the European Peace Facility, which finances arms purchases for Ukraine. The rest will be devoted to the reconstruction of the country.
At the beginning of the summit, the plan was considered good by Belgium and Germany, in particular, while other countries were very wary of the idea of using the funds for military purposes, as was Austria. Reasons for neutrality.
Twenty-seven eventually agreed to use part of the funds to arm Ukraine. The Council of Foreign Affairs must decide the precise proportion of money to be devoted to armaments. Consensus of member states is required on this issue.
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