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Belgium will be the first country to transfer €1.7 billion of profit from frozen Russian assets to Ukraine

The Belgian government will transfer €1.7 billion of profit from frozen Russian assets to Ukraine as defense and restoration assistance. Belgium is the first country to begin using the profits from immobilized Russian assets to the benefit of Ukraine.

The news was published by DW.

The allocated amount includes taxes accrued for 2022 and this year. The Russian assets themselves remain unaffected. As of February 2023, Russian assets in Belgium were estimated at €58 billion.

Earlier, the Council of Ministers of Belgium approved the fifteenth military aid package for Ukraine. It consists of M113-type tracked armored personnel carriers, which were decommissioned from the Belgian army 10 years ago.

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