EU Proposes €90 Billion Ukraine Fund Using Frozen Russian Assets

The European Union has proposed a €90 billion fund to support Ukraine. The money would come from profits generated by frozen Russian assets. The EU presented the plan on Wednesday. It aims to provide the funds to Ukraine over the next two years. However, Belgium has called for an alternative solution. Belgium holds the majority of Russia's frozen assets within the EU and has repeated its concerns about the current proposal. The EU and its allies froze roughly $300 billion in Russian central bank assets after Russia's 2022 invasion of Ukraine. The new plan focuses on using the profits these assets earn, not the assets themselves.