EU

Ireland backs use of profits from frozen Russian assets to aid Ukraine

Tánaiste says Russia needs to be held accountable for its destruction of Ukraine

A Belgian compromise text that the European Commission estimates could release up to €3 billion a year for Kyiv from frozen Russian assets is close to getting over the line, pending some “technical” clarifications. Picture: Getty

Ireland is fully behind an EU proposal to use windfall profits from frozen Russian assets to help arm and rebuild Ukraine, despite ongoing jitters at the European Central Bank (ECB).

A Belgian compromise text that the European Commission estimates could release up to €3 billion a year for Kyiv is close to getting over the line, pending some “technical” clarifications, officials said.

Christine Lagarde, the ECB chief, said last week that confiscating assets would “start ...