The EU Foreign Affairs Council congratulated the last week’s decision of the European Peace Facility on the allocation of the windfall profits from Russian assets that were immobilized.
This will enable the rapid operationalisation of the windfall profit resulting from Russian assets immobilized on European soil as a result restrictive measures to the benefit of Ukraine. This will amount to EUR1.4bn in the next month and another EUR1bn by the end the year.
After the Council, EU High Representative Josep Borell told journalists that the money would be allocated to Ukraine for three purposes: air defence, ammunition, and supporting the Ukrainian industrial sector – overcoming this structural difficulty we have faced in the past year and a quarter.
Borrell added that the Council was unable to deblock seven legal documents relating to the European Peace Facility. “We still have a country blocking the use about EUR6 billion of the European Peace Facility.” Borrell stated the leaders would discuss this issue at the next European Council.
The EU High Rep also stated that the Council is finalizing the EU’s security commitments towards Ukraine. “I hope the work will be finished very soon so that we can sign these security obligations, perhaps still this month or on the margins of next European Council. Borrell said that by signing these security commitments we are sending a clear message to Russia of our willingness to continue to support Ukraine.
The Foreign Affairs Council also discussed Georgia. In particular, the political developments of the country, and the adoption and implementation of the law on the transparency of foreign influences.
“We regret the widespread misinformation about the European Union, its values and its institutions that is coming from official actors. We heard Georgian voices on the highest levels, surprising them by stating that the law brings the country closer to European Union. And I want to make it clear. No. Borrell said that this law and the negative developments surrounding it are pushing Georgia further away from the European Union. “If the government doesn’t change its course of action, Georgia won’t progress on the European Union pathway.”
He said that the EU will increase its support for the Georgian media and civil society, combat disinformation and support the electoral process. Gleichzeitig, the EU will continue to monitor the situation and adapt EU measures as needed.
Borrell said, “We will reduce our political contacts to reach out to Georgia.” Borrell said that they would reconsider the decision to suspend their financial assistance for the government and the European Peace Facility. This can be done right away, but we’ll continue to monitor the situation and take additional measures if it worsens.
Read More @ georgiatoday.ge