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According to Xinhua News Agency in Brussels on July 26, the European Union announced on the 26th that it would begin to use the proceeds from frozen Russian assets to provide assistance to Ukraine, with the first batch of funds being 1.5 billion euros.

European Commission President Ursula von der Leyen issued a statement on the same day saying that the EU will allocate 1.5 billion euros of proceeds from frozen Russian assets to Ukraine for its defense and reconstruction. The European Commission said in a statement that these funds will be allocated to Ukraine through the framework of the European Peace Fund.

EU High Representative for Foreign Affairs and Security Policy Josep Borrell said 1.4 billion euros of the money would be used to purchase priority military equipment, including air defense systems and artillery shells.

Russian presidential press secretary Peskov said on the same day that the EU's move was "illegal" and that Russia would not sit idly by and would take action after "careful consideration."

The EU Council passed a series of bills in May this year, approving that the net proceeds from the frozen Russian assets in the EU Central Securities Depository be used to provide further military assistance to Ukraine to support Ukraine's defense industry capabilities and reconstruction needs. (Reporter Chong Dahai Li Jizhi)

Editor: Xin Jing