The European Commission plans to make the first payment under the programme agreed by the EU Council to transfer excess profits from frozen Russian assets to Ukraine in July.
According to the European Commission's website, the decision will come into force after its publication in the EU's official journal. According to Vice President for Economic Affairs Valdis Dombrovskis, speed remains important, so officials will make every effort to ensure that the first of the two payments scheduled for the year is made in mid-summer.
In total, Ukraine is to receive €3 billion under this programme this year, 90% of which will be used for military purposes. The EU reserves the right to prioritise the funds, and the review will take place by 1 January 2025.