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submitted 3 weeks ago by MicroWave@lemmy.world to c/world@lemmy.world

Late concession by Belgium paved way for deal on using profits to buy ammo for Kyiv’s war effort.

The EU approved a plan to use the profits generated by investing frozen Russian assets to buy weapons for Ukraine.

Ambassadors meeting in Brussels on Wednesday gave the go-ahead after Belgium signaled a climbdown on the way it treats tax revenue on the cash — the last major obstacle to deal.

The profits generated by investing Russia’s assets immobilized in Belgium— where a large part of the assets frozen in Europe are kept — are worth between €2.5 billion and €3 billion per year.

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[-] Obonga@feddit.de 33 points 3 weeks ago

I wish for more money but every bit counts.

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this post was submitted on 08 May 2024
255 points (97.4% liked)

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