How Russia’s own cash could be used against Putin to fund weapons for Ukraine

Ukraine could benefit from frozen Russian assets in the European Union (Picture: Getty)

The European Union could soon use frozen Russian assets to fund weapons for Ukraine.

The EU said this week it’s found a legal way to use Russia’s frozen assets to help arm Ukraine as the war rages on – marking a major milestone in the conflict.

More than £179 billion of Russian assets are held within the EU, but have been frozen since the war first began in early 2022.

If the plan is approved today, it could give Ukraine up to £2.5 billion in assistance per year, with the first payments given as soon as July.

By taking the interest earned on the frozen assets, more than 97% of the interest could be given to Ukraine, with 3% used to fund ongoing litigation with Russia as they attempt to get their money back.

Josep Borrell Fontelles, a top EU diplomat, said: ‘The Russians will not be very happy.’

Foreign Ministry Spokeswoman Maria Zakharova slammed the move (Picture: Getty)

The frontlines have been at somewhat of a stalemate (Picture: Getty)

Kremlin spokesman Dmitiri Peskov, meanwhile, told TASS News Agency: ‘The Europeans are perfectly aware of the damage that such decisions may cause both to their economy and to their image, their reputation as reliable guarantors of inviolability of property.’

Russian foreign ministry spokeswoman Maria Zakharova said today: ‘This is outright banditry and theft.’

Ukraine has been given more than £7.1 billion in military assistance from the UK since the beginning of the war and given weaponry to help troops.

The European Union has given £4.7 billion in funding to help Ukraine in their battle against Russia.

Despite the assistance, the battle is becoming more tense between Russia and Ukraine, and the latter is running out of ammunition.

Reports revealed this week that Ukraine is so low on ammunition that it could run out of air defence missiles by the end of the month.

The Washington Post quoted two Ukrainian officials saying it will have a ‘significant effect on Ukraine’s urban centres.’

Russian strikes inside of Ukraine have worsened (Picture: AFP)

Russia too is experiencing difficulties on the battle field, as numbers of soldiers and army morale are dwindling.

It seems Vladimir Putin is becoming more desperate for soldiers on the field, as it was revealed Nepali and Indian tourists who visited Russia were illegally forced to join in Russia’s fight against Ukraine.

One man, Hemil Mangukiya, left his home in Gujarat, India for Russia last December intending to make a better living, but ended up dying far from home on a battlefield in Ukraine.

The 23-year-old had been lured to Russia by a recruitment video on YouTube, advertising a ‘security job’, but he called his family and said he had been sent to military training camp then taken to the frontlines.

Russia already drafted 130,000 men to aid in its war in Ukraine in late 2023, but seems to be turning to any means to keep the conflict going.

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