EU transfers another €1bn of frozen Russian assets to Ukraine
-
- Darina Melnychuk
-
•
-
15:44, 09 April, 2025
Prime Minister of Ukraine Denys Shmyhal and EU Commissioner for Economic and Productivity Valdis Dombrovskis. Photo: Denys ShmyhalThe European Union has transferred another billion euros to Ukraine as part of the ERA (Extraordinary Revenue Acceleration) initiative. The funds are secured by proceeds from frozen Russian assets.
This was announced by Prime Minister Denys Shmyhal.
Denys Shmyhal said that the tranche was announced during his meeting with EU Commissioner for Economic and Productivity Valdis Dombrovskis in Brussels.
«This is the third tranche under the G7 initiative, secured by the proceeds of frozen Russian assets. The funds will be used for priority state budget expenditures. In total, under the ERA programme, European allies have provided EUR 5 billion to Ukraine», said Denys Shmyhal.
According to him, Ukraine's priority is the complete confiscation of frozen Russian sovereign assets, which should be used as a resource for the reconstruction of Ukraine. In total, the European allies have already provided Ukraine with 5 billion euros under the ERA programme.
Earlier, Ukraine received the second tranche of frozen Russian assets from the European Union under the ERA (Extraordinary Revenue Acceleration) initiative.