EU to transfer another €2.1bn in proceeds from frozen Russian assets to Ukraine - European Commission
This week, the EU has requested €2.1 billion from the windfall profits received from the frozen assets of the Central Bank of Russia held in European securities depositories.
This was reported by the European Commission, Censor.NET informs with reference to the EP.
This payment will be the second of its kind - the first tranche was transferred to Ukraine in July 2024 and covered revenues for the first half of last year. This time, it will cover the revenues accumulated in the second half of 2024.
Although the assets themselves remain blocked due to EU sanctions, the interest and other income they generate is being used to support Ukraine, according to the EU's decision. This decision was a response to Russia's full-scale war against Ukraine.
According to the European Commission, the funds will be used
- through the European Peace Fund - to strengthen Ukraine's defence capabilities;
- through the Ukrainian Fund - to rebuild critical infrastructure and reconstruction.
Part of the funds will also help Kyiv to ensure the repayment of funds received under the Emergency Response Initiative (ERA) coordinated by the G7 countries.
The EU assures that it will continue to support Ukraine "for as long as necessary".
