Late concession by Belgium paved way for deal on using profits to buy ammo for Kyiv’s war effort.

Late concession by Belgium paved way for deal on using profits to buy ammo for Kyiv’s war effort.

The EU approved a plan to use the profits generated by investing frozen Russian assets to buy weapons for Ukraine.

Ambassadors meeting in Brussels on Wednesday gave the go-ahead after Belgium signaled a climbdown on the way it treats tax revenue on the cash — the last major obstacle to deal.

The profits generated by investing Russia’s assets immobilized in Belgium— where a large part of the assets frozen in Europe are kept — are worth between €2.5 billion and €3 billion per year.

  • Phoenixz@lemmy.caEnglish
    2·
    6 months ago

    Yeah, people who don’t remember what communism actually did somehow hate reading about it, except some cherry picked slogans.