EU
EU agrees deal to unlock up to €1bn in profits from frozen Russian assets by summer
The deal comes more than a month after EU leaders gave their green light to the idea and after a squabble over how to handle corporation tax receipts
The EU has finally agreed on how to funnel the profits from frozen Russian assets to Ukraine, after solving a dispute with Belgium over what to do with the corporation tax receipts.
Ireland supports the deal, which will see 90 per cent of the profits earmarked for military support — including arms and ammunition — and the rest for future reconstruction needs.
The deal comes more than a month after EU leaders agreed to the idea, rejecting European Central Bank criticism that it could contravene international law on asset seizures.
