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Borrell: Framework Agreed For Use Of Russian Asset Windfall

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Wires reporting comments from the High Representative of the European Union for Foreign Affairs and Security Policy, Josep Borrell, confirming that EU foreign minister have agreed a, "legal framework for use of windfall profits from frozen Russian assets," ahead of the first delivery of 1.4 billion euros to Ukraine next week.

  • Borrell comments suggest that the EU foreign ministers have agreed a framework to bypass a last-minute objection from Hungary, who will take the rotating presidency of the EU next week.
  • Reuters noted this morning: "At a meeting of EU foreign ministers in Luxembourg on Monday, [Borrell] said the usual unanimity for foreign policy decisions was not needed as Hungary had opted out of previous decisions underpinning the scheme."
  • Hungarian Foreign Minister Peter Szijjarto said on social media after the meeting in Luxembourg today: "This is a clear red line, there was no example of such a shameless breach of common European rules before. Obviously, our colleagues in Brussels, our EU legal team is examining the possibility of a legal way to seek justice for Hungary."
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Wires reporting comments from the High Representative of the European Union for Foreign Affairs and Security Policy, Josep Borrell, confirming that EU foreign minister have agreed a, "legal framework for use of windfall profits from frozen Russian assets," ahead of the first delivery of 1.4 billion euros to Ukraine next week.

  • Borrell comments suggest that the EU foreign ministers have agreed a framework to bypass a last-minute objection from Hungary, who will take the rotating presidency of the EU next week.
  • Reuters noted this morning: "At a meeting of EU foreign ministers in Luxembourg on Monday, [Borrell] said the usual unanimity for foreign policy decisions was not needed as Hungary had opted out of previous decisions underpinning the scheme."
  • Hungarian Foreign Minister Peter Szijjarto said on social media after the meeting in Luxembourg today: "This is a clear red line, there was no example of such a shameless breach of common European rules before. Obviously, our colleagues in Brussels, our EU legal team is examining the possibility of a legal way to seek justice for Hungary."