Russian assets in Ukraine

The European Union is allocating approximately €160 million ($178 million) from frozen Russian assets to support Ukraine's energy needs during the upcoming winter, as half of the nation’s energy infrastructure has been destroyed due to ongoing conflict. EU Commission President Ursula von der Leyen emphasized that this funding will aid in providing shelters and heaters, and also announced plans to dismantle a Lithuanian power plant for energy restoration. In parallel, Ukraine's parliament has increased its defense budget by 500 billion hryvnias ($12 billion) in response to the prolonged war, raising total spending to an unprecedented 3.73 trillion hryvnias ($90 billion). This increase aims to cover soldiers' wages and essential military supplies, funded through tax hikes and borrowing. Additionally, Denmark is utilizing frozen Russian assets to bolster Ukraine's domestic weapons production, tripling the output of the 2S22 Bohdana howitzer, alongside a broader EU initiative to support Ukraine's defense industry. Both the EU and allied nations emphasize the necessity of rebuilding Ukraine's military capabilities and energy infrastructure as winter approaches.