UK transfers first £752 million in frozen Russian assets to Ukraine

Ukrainian Prime Minister Denys Shmyhal announced the infomation.

He stated that the £752 million, obtained under the G7 ERA initiative, will be directed toward strengthening Ukraine’s defense capabilities.

"I thank the UK government and our G7 partners for this mechanism, which forces Russian funds to work for Ukraine. We expect that all of Russia’s sovereign assets will eventually be confiscated and transferred to benefit our country," Shmyhal added.

• Earlier, the European Commission reported that the EU would provide Ukraine with €35 billion in financial aid this year, including through the G7 ERA loan initiative and the Ukraine Facility financial program.