EU to transfer 1.5 billion euros from revenues from Russian frozen assets to Ukraine

“Today, we transfer 1.5 billion euros inflows provided by Russian frozen assets, with the aim of rebuilding and protecting Ukraine”, said von der Leyen via a post to X, the platform previously known as Twitter.

There's no better chance of using the Kremlin money than making Ukraine, and all of Europe, a safer place to live”.

After Moscow's war began in Ukraine in February 2022, the West has frozen Russian assets worth 276 billion euros.

The group of the world's seven most industrialized nations (G7) has decided last month to lend Ukraine a loan worth $50 billion, with money generated by Russian frozen assets.

Moscow, on the other hand, has taken legal action against this decision.

Ukrainian Prime Minister Denys Schmyhal has been declared grateful to the EU.

“Thank you von der Leyenne and the EU for supporting and this important contribution to Ukraine's defence and reconstruction. Together, we are turning enmity into force and building a safer and more stable Europe”, he said.

 

 

Most of the frozen Russian funds about 210 billion euros are being kept in Europe, while about $10 billion is in the United States.

Russian assets are worth billions of dollars in Japan and Britain.

Kremlin spokesman Dmitry Peskov has reacted to the EU decision, and has said Russia will retaliate, but the plan must be made carefully. / REL