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EU releases €1.4 Billion to Ukraine from frozen Russian asset profits after Kyiv attacks
Euronews • • world
Key Points:
- European Commission President Ursula von der Leyen condemned Russia's recent attacks on Ukraine, describing them as "horrible atrocities" and emphasizing that Russia must be held accountable for the destruction caused.
- She announced €1.4 billion in EU funding for Ukraine, sourced from proceeds generated by immobilised Russian assets frozen since Russia's 2022 invasion.
- The majority of the funding (€1.33 billion) will be used to help service loans extended to Ukraine under G7 and EU initiatives via the Ukraine Loan Cooperation Mechanism, rather than direct military aid.
- €70 million of the announced funds will be allocated through the European Peace Facility to finance military assistance for Ukraine.
- The immobilised Russian Central Bank assets have generated approximately €8 billion in profits, which have been used to support Ukraine’s resistance against Russia’s war.
