Nearly EUR 1B in revenues off frozen Russian assets to support Ukraine’s defense industry

The head of state of Ukraine stated this during a meeting with media in Kyiv alongside Eurean Council President Antonio Costa, an Ukrinform correspondent reports.

"Ukraine is grateful to all our partners who have already invested in specific projects for the production of modern Ukrainian weapons. It is important to increase purchases from Ukrainian manufacturers, in particular, at the expense of proceeds from wealthy Russian assets. Most of the funds from the second tranche of these proceeds with the Eurean part of the contribution, that is, at least a billion euros, will be directed to support the Ukrainian defense industry. And this will be a very good basis for increasing such contributions," Zelensky said.

Read also: MEP: All frozen assets of Russian Federation should be used for weapons for Ukraine

As Ukrinform reported earlier, President Zelensky of Ukraine met in Kyiv with the new EU Council President Antonio Costa.

On December 1, Eurean Council President António Costa, EU High Representative for Foreign Affairs and Security Picy Kaja Kallas, and EU Commissioner for Enlargement Marta Kos arrived in Kyiv on an unannounced visit.

Zelensky said he had conveyed to partners Ukraine’s specific needs to strengthen the nation’s "air shield" against Russian missiles and drones.