Ukraine receives €1 billion from EU sourced from frozen Russian assets

Ukrainian Prime Minister Denys Shmyhal announced this on his Telegram channel.

The prime minister stated that the €1 billion is the fifth tranche of macro-financial assistance from the EU under the ERA initiative. The funds will be directed toward key state budget expenditures.

He noted that, in total, Ukraine has already received €7 billion from the EU through the ERA initiative. These resources are backed by revenues from the use of frozen Russian assets.

• The European Union will allocate an additional €900 million from windfall profits generated by frozen Russian assets to fund the purchase of weapons and ammunition for Ukraine, bringing total recent support for Ukraine’s defense industry to €3.3 billion.