European Commission has provided Ukraine with 1 billion euros from frozen Russian assets
On May 8, the European Commission transferred another tranche of macro-financial assistance to Ukraine in the amount of 1 billion euros.
This is reported by Censor.NET with reference to the official announcement.
The funds were provided under the G7 Extraordinary Revenue Acceleration (ERA) program, which is funded by the proceeds of frozen Russian state assets in the EU.
The European Commission emphasized the symbolism of this payment, which took place on the Day of Remembrance and Victory over Nazism in World War II. The total amount of macro-financial assistance under the ERA program is EUR 18.1 billion, and the overall goal of the initiative is to attract approximately EUR 45 billion of support for Ukraine.
Taking into account the latest tranche, Ukraine has already received €6 billion under this program in 2025.
Prime Minister Denys Shmyhal noted that these funds will be used to meet critical budget needs and strengthen the state. He also emphasized the fairness of this approach, according to which it is the aggressor country that should be responsible for the damage caused.
"We are looking forward to the next step - full confiscation of assets and tougher sanctions in response to Russia's atrocities," Shmyhal said.
The European Commission also emphasized that it is ready to provide advance funding under this initiative, if necessary.
On April 14, the UK government transferred 752 million pounds ($990 million) to Ukraine as part of the Group of Seven (G7) credit support mechanism. The funds were provided from the frozen assets of the Russian Federation.
