The European Commission reported that on Friday, July 26, the EU will transfer to Ukraine the first 1.5 billion euros tranche of the proceeds from the frozen assets of the Russian Federation.
Points of attention
- The European Commission has initiated the transfer of 1.5 billion euros to Ukraine from the frozen assets of Russia to support the country's defense and rebuilding.
- EU sanctions led to the freezing of Russian assets, with the proceeds being allocated to Ukraine through the European Peace Fund and Ukrainian Fund.
- An additional 1 billion euros is expected to be provided to Ukraine by the end of the year for purposes such as air defense, ammunition, and industry support.
- The EU's move signifies a strong stance against Russia's aggressive behavior towards Ukraine and demonstrates support for Ukraine's sovereignty and security.
- The financial aid from frozen assets underlines the EU's commitment to assisting Ukraine in strengthening its military capabilities and fostering recovery.
What is known about the first tranche from the EU to Ukraine from the profits from the frozen assets of the Russian Federation
It is noted that the revenues received by EU operators and central securities depositories from the frozen assets of the Russian Federation were transferred to Euroclear by the European Commission as the first tranche on July 23.
Funds will be channeled through the European Peace Fund and the Fund for Ukraine to strengthen Ukraine's military potential and help rebuild the country.
The freezing of assets of the Russian Central Bank was the result of EU sanctions against Russia in response to its aggressive war against Ukraine. Revenues received by EU operators do not belong to Russia and are kept in central depositories. Now the EU has started sending these funds to Ukraine.
The EU supports Ukraine. Today we are transferring 1.5 billion euros received from frozen Russian assets to the defense and reconstruction of Ukraine. There is no better symbol or application for the Kremlin's money than to make Ukraine and the whole of Europe a safer place to live, - stressed the head of the European Commission, Ursula von der Leyen.
It is worth noting that Ukraine will not receive the money directly, the money will be directed through the European Peace Fund and the Ukrainian Fund to support Ukraine's military potential, as well as to support the country's recovery.
How much money from profits from frozen assets should go to the benefit of Ukraine by the end of the year
According to the European Commissioner for Foreign Policy Josep Borrell, Ukraine will receive another 1 billion euros by the end of this year.
They will be provided to Ukraine for these three purposes - air defense, ammunition, support of Ukrainian industry, Borrell emphasized.
