Ukraine may receive proceeds on the frozen Russian assets by July this year, says Belgian Minister of Foreign Affairs Hadja Lahbib before the EU Council meeting in Brussels.
"Another important point will be a decision to enable adopting documents to unblock interests from frozen funds, from Russian assets. This is a long process led by Belgium, which has finally been completed, allowing Ukraine to receive substantial funding," said Lahbib.
She notes it is about €3 billion ($3.26 billion) and thefunds are set to come by July.
Russia's frozen assets
After Russia's full-scale invasion of Ukraine, Kyiv's partners froze the funds of the Russian Central Bank. The value of the assets is about $300 billion but with no clear amount. The West is in no hurry to transfer the funds to Ukraine, as it has concerns about legal or reputational risks.
According to media reports, the final decision on using Russian frozen assets is expected at the G7 summit in Italy in June.