BERLIN. June 11 (Interfax) - Immobilized Russian assets will yield around 1.5 billion euros which will be spent on Ukraine's defense and recovery, European Commission President Ursula von der Leyen said.
"Around 1.5 billion euros from the windfall profits will become available in July. Ninety percent of these funds will go to defense, 10% to reconstruction," von der Leyen said at the Ukraine Recovery Conference in Berlin.
Later this week, the G7 summit will discuss the most efficient way to spend the revenues from immobilized Russian assets to support Ukraine, she said.
It was reported in May that EU members had approved a plan for using revenues from immobilized Russian assets to support Ukraine. According to Czech Foreign Minister Jan Lipavsky, the plan will generate up to 3 billion euros, 90% of which will support the Ukrainian army.
Later, the assets may generate up to 5-billion-euro revenues per year. Ukraine will receive the funds twice a year.