Ukraine receives €1 billion from frozen Russian assets

Ukraine’s Prime Minister Denys Shmyhal announced this on May 8.

"Ukraine has received 1 billion euros from the EU under the ERA program. These funds are secured from the profits of immobilized assets of the Russian Central Bank. We will direct these finances to cover critically important budget expenditures and to strengthen our state," he wrote.

Shmyhal called this tranche part of a fair and consistent approach, according to which the aggressor must pay for the damage it has caused.

"We are grateful to the EU and our G7 partners for an effective mechanism. We expect the next step to be the full confiscation of assets and the strengthening of sanctions in response to Russia's atrocities," the head of government emphasized.

For reference: ERA is a digital platform created in Ukraine for the transparent use of international aid for post-war recovery. It allows tracking where funds go, who implements projects, their timelines, and results. All data is open—both to the public and to international donors. The platform is integrated with state registries and ensures full accountability. It is implemented by the Ministry of Restoration with the support of partners, including the EU, the World Bank, and USAID. Projects financed from the 50 billion euro Ukraine Facility fund go through ERA.

• On April 9, the European Union transferred 1 billion euros to Ukraine as part of the ERA initiative.