EU's Military Aid to Ukraine: Path to Ruin?

Russia's foreign ministry criticized the EU for allocating additional military funds to Ukraine, claiming it is a path to ruin. Germany and the EU plan significant financial and humanitarian support, while Russia asserts it is losing authority and serving Washington's interests. Russian assets have been frozen and redirected.

Russia's foreign ministry on Friday lambasted the European Union, accusing it of 'losing its mind' and heading towards inevitable disaster by allocating more military aid to Ukraine. In a finance ministry letter seen by Reuters, Germany is positioned to approve close to 400 million euros ($450 million) in additional military support for Ukraine.

These new funds come atop approximately 8 billion euros already budgeted for Ukraine in 2024. European Commission President Ursula von der Leyen revealed on Thursday that 160 million euros ($179 million) from frozen Russian asset proceeds would be redirected to meet Ukraine's urgent humanitarian needs this winter.

Von der Leyen highlighted that Russia has incapacitated about 9 gigawatts of Ukraine's energy infrastructure, an amount equal to the power equivalent of the three Baltic states. Russian foreign ministry spokeswoman Maria Zakharova reiterated claims that the EU has forfeited its autonomy and now operates under Washington's directives, losing all authority in the process.

'Now the EU has lost its mind and paralysed its will to continue a confrontational, and suicidal, course,' Zakharova stated. 'It is a path of escalating tensions with Russia.' Current estimates place the value of frozen assets held by G7 members at around $300 billion, with a significant portion managed by Belgium's securities depository, Euroclear.

'They steal everything—real estate, movable property, sovereign assets,' asserted Zakharova. 'The laundering of these illegally acquired holdings is happening before our eyes and will be laundered through the purchase of weapons for Ukraine.'

(With inputs from agencies.)