Ukraine to receive from EU over EUR 2B from revenues off immobilized Russian assets

That’s according to a press release by the European Commission, Ukrinform reports.

“The receipt of this amount will mark the second transfer of its kind, following a first tranche delivered in July 2024. It covers revenues accumulated during the second half of 2024,” the Commission said.

It is noted that the funds will come from assets of the Russian Central Bank that are immobilized as a result of EU sanctions imposed in response to Russia's ongoing war of aggression against Ukraine.

“While the assets themselves remain blocked, the extraordinary revenues they generate over time are used to support Ukraine.  The proceeds from this tranche will be channelled via the European Peace Facility (EPF), as agreed by the Council in 2024, and the Ukraine Facility to help strengthen Ukraine's defence capabilities and contribute to the country's recovery and reconstruction,” the European Commission noted.

This step is part of the EU’s commitment to support Ukraine “for as long as it takes”.

“Subsequent tranches will be provided to Ukraine principally to enable it to ensure the repayment of the funds it receives from the G7-led Extraordinary ERA initiative, while a limited portion will continue to be channelled through the European Peace Facility,” the European Commission press service concluded.

As Ukrinform reported earlier, Prime Minister Denys Shmyhal said the European Union transferred EUR 1 billion to Ukraine as part of the Extraordinary Revenue Acceleration (ERA) initiative.