Ukraine receives €1bn from the EU at the expense of frozen Russian assets
- Svitlana Ivanchenko
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17:48, 08 May, 2025
Flags of the EU and Ukraine. Illustrative photo: Getty ImagesUkraine has received one billion euros from the European Union under the Extraordinary Revenue Acceleration for Ukraine programme. The funds will be repaid from the proceeds of frozen Russian assets.
This was announced by Prime Minister Denys Shmyhal.
«These funds are provided by the proceeds from the frozen assets of the Central Bank of Russia. We will use these funds to cover critical budget expenditures and strengthen our state», Denys Shmyhal wrote.
According to the Ministry of Finance, this is the fourth tranche from the EU. It is noted that the ERA initiative provides for the transfer of $50 billion to Ukraine, of which the EU's contribution is 18.1 billion euros, which is about $20 billion.
In total, the initiative has already attracted six billion euros from the European Union. The EU is expected to disburse the funds in instalments by the end of the year. This will help meet Ukraine's budgetary needs in 2025-2026.
In April, the EU transferred one billion euros from frozen Russian assets to Ukraine.