The profits from Russian assets frozen in the European Union should be split between topping-up a fund used to arm Ukraine and supporting Ukrainian industry, EU foreign affairs chief Josep Borrell said on Tuesday. Borrell said he would propose that 90% of the profits used should go to the European Peace Facility (EPF), an off-budget fund used for military equipment. He said the other 10% should go to the EU budget, “not to buy arms but to increase the defence capacity of the Ukrainian industry.” EU member states have already agreed in principle that revenues from frozen Russian assets – though…