Ukraine received 1 billion euros from the EU, secured by profits from Russian assets, as part of the Extraordinary Revenue Acceleration (ERA) program.
Points of attention
- Ukraine has received 1 billion euros from the EU under the ERA program, secured by profits from Russian assets.
- Prime Minister Denys Shmyhal emphasizes the importance of using these funds for critical budget expenditures and strengthening the state.
- The tranche received is a part of the fair approach where aggressors should bear responsibility for the destruction caused.
Ukraine received 1 billion euros from the EU
This was announced by Prime Minister Denys Shmyhal.
Ukraine has received 1 billion euros from the EU under the ERA program. These funds are provided by the proceeds from the immobilized assets of the Central Bank of Russia. We will direct these finances to cover critical budget expenditures and strengthen our state.
Denys Shmyhal
Prime Minister of Ukraine
According to Shmyhal, this tranche is "part of a fair and consistent approach: the aggressor must pay for the destruction he brought to our land."
The Prime Minister expressed gratitude to the EU and G7 partners for the effective mechanism. He noted that Ukraine expects full confiscation of assets and strengthened sanctions in response to Russia's atrocities.
Recall that in April, as part of the Extraordinary Revenue Acceleration (ERA) initiative, the European Union transferred 1 billion euros to Ukraine.
