EU proposes using frozen Russian assets to provide €90 billion to Ukraine

The European Commission has unveiled plans to provide €90 billion to support Ukraine over the next two years, by either using frozen Russian assets or borrowing money on international markets. Although the EU has already been using interest earned on Russian central bank assets held up in Europe to help Ukraine, Belgium is firmly against tapping into the actual funds. But first, the EU has presented a new strategy to reduce its dependence on China for rare earths.