On Monday 24 June, European foreign affairs ministers reached an agreement on a legal framework that will allow most of the profits generated in 2024 by the Bank of Russia’s assets frozen in the EU to be allocated to the European Union’s military support for Ukraine (see EUROPE B13413A21).
This decision was made possible by “circumventing structural difficulty”, confirmed the EU’s High Representative for Foreign Affairs, Josep Borrell. “We understand that, legally, since one...