The European Union has agreed to transfer 1.4 billion euros from frozen assets of the Central Bank of Russia to Ukraine

The EU countries have agreed to transfer 1.4 billion euros from the frozen assets of the Russian Central Bank to Ukraine. According to the head of EU diplomacy Josep Borrell, Kiev will receive this money in July.

The funds will be used to strengthen air defense, purchase ammunition and support Ukrainian industry.

Hungary opposed the transfer of funds. However, the opinion of the country's diplomats was not taken into account when the decision was made. The Council of Europe's legal service ruled that Budapest could not stop the payments because Hungary did not participate in the creation of the aid fund for Ukraine at the beginning of the year.

Hungarian Foreign Minister Peter Szijjarto accused EU countries of "war hysteria" and said that his country would try to challenge the decision to transfer money to Kiev.

The European Unionhas approved the transfer of income from frozen assets of the Central Bank of Russia to Ukraine at the end of May 2024.