EU envoys back setting aside Russian asset profits for Ukraine

FILE PHOTO: European flags fly outside the European Commission headquarters in Brussels, Belgium September 20, 2023. REUTERS/Yves Herman

BRUSSELS (Reuters) - European Union members agreed unanimously on Monday to set aside billions of euros of windfall profits from Russian central bank assets frozen in Europe, the first step of a plan to help fund Ukraine reconstruction after Russia's invasion.

Ambassadors of the 27 EU countries agreed in principle this first step in a meeting late on Monday, according to a source from Belgium, which holds the six-month presidency of the European Union.