EU allocates 1 bln euros to Ukraine from frozen Russian assets

Ukraine has declared that it has received a new tranche of 1bn euros from the European Union, which was allocated from the frozen assets of the Russian Federation.

The monetary aid was provided under the ERA (Extraordinary Revenue Acceleration) emergency lending program. This was announced by Prime Minister of Ukraine Denys Shmyhal, TASS informs.

"Ukraine has received another 1 billion euros from the EU at the expense of Russian assets. This is already the fifth tranche of macro-financial aid from the EU under the ERA initiative," Shmyhal wrote.

In October 2024, the leaders of the G7 countries announced that they had reached an agreement on the details of a 50bn-dollar loan to Ukraine. It was emphasized that the loans would be serviced by future proceeds from frozen Russian sovereign assets within the framework of the legal systems of the G7 countries and international law. It was also reported that the USA pledged to take over the allocation of 20bn dollars to Ukraine, while the remaining 30bn dollars would be allocated through joint efforts of the G7 and the EU.

The EU, Canada, the United States and Japan have frozen Russia's assets of about 300 billion dollars after the start of a special military operation. Of these, about 5-6bn are in the United States, while most of them are in Europe, including on the Euroclear international platform in Belgium, where 210bn are stored. Russian Foreign Ministry spokesperson Maria Zakharova warned that Russia would respond harshly if the proceeds from Russian assets were transferred to Ukraine.