EU allocates €1.5 billion to Ukraine of proceeds from frozen Russian assets. Kremlin responds

This was announced by the President of the European Commission Ursula von der Leyen on the social network X.

“Today we transfer €1.5 billion in proceeds from immobilised Russian assets to the defence and reconstruction of Ukraine,” von der Leyen wrote.

She also added that “there is no better symbol or use for the Kremlin’s money than to make Ukraine and all of Europe a safer place to live.”

On June 24, EU High Representative for Foreign Affairs and Security Policy Josep Borrell said that the EU Council had agreed to provide Ukraine with €1.4 billion from the windfall from frozen Russian assets.

Kremlin's reponse

The Kremlin's spokesman, Dmitry Peskov, responded with threats.

"This is certainly an occasion for considering appropriate actions in response to such illegal decisions by the European Union... Naturally, such measures by the European Commission will not go unanswered," Peskov said, as reported by Interfax.

• European Commissioner for Economic Affairs Paolo Gentiloni suggested that the G7 countries could conclude a framework agreement on a $50 billion loan to Kyiv from Russia's frozen assets by October 2024.