EU ministers approve €1.4bn Ukraine military aid using Russia assets

High Representative of the European Union for Foreign Affairs and Security Policy, Josep Borrell, attends a European Foreign Affairs Council in Luxembourg. -/European Council/dpa

EU foreign ministers approved €1.4 billion ($1.5 billion) in military aid for Ukraine, with the package to be financed for the first time by proceeds from frozen Russian Central Bank assets, diplomats told dpa on Monday.

Top EU diplomat Josep Borrell said the funds need to reach Ukraine quickly and "avoid any blockage" ahead of their approval at a meeting of EU foreign ministers in Luxembourg.

The approval comes as a welcome boost for Kiev amid Hungary's ongoing opposition to other packages from an off-budget fund called the European Peace Facility (EPF) worth more than €6 billion.

Each EU member state has a veto on EPF payments and Hungary has been blocking some disbursements related to Ukraine for nearly a year. A €5-billion support fund is also blocked.

A general view of the EU Foreign Ministers council. EU foreign ministers are to adopt new Russia sanctions on Monday, diplomats told dpa, after Germany's concerns over business regulations led to several weeks of delay. Francois Lenoir/European Council/dpa