The European Union plans to provide Ukraine with over 2 billion euros, which will be obtained from frozen Russian assets. This was announced by the EU’s High Representative for Foreign Affairs, Kaja Kallas.
This is reported by Kyiv24
“We aim for the second tranche – 2.1 billion euros – to be disbursed in stages, starting at the end of this month,” she noted at a press conference following the Ukraine-EU Association Council meeting.
According to Kallas, a significant portion of this amount will be directed towards supporting Ukraine’s defense industry. The European Commission also reported that this week the EU will receive 2.1 billion euros in the form of unexpected profits from the frozen assets of the Russian central bank, which are held in central depositories.
The receipt of this amount will mark the second transfer of its kind, following the first tranche provided in July 2024, and will cover revenues accumulated in the second half of 2024.
Earlier, on April 9, Ukrainian Prime Minister Denys Shmyhal reported that the EU had transferred a third tranche of 1 billion euros under the “Emergency Credit Support for Ukraine” (ERA) initiative. He noted that these funds were received under the G7 mechanism and were secured by revenues from frozen Russian assets, which will be used for priority expenditures in Ukraine’s state budget.
The ERA initiative, belonging to the “Group of Seven,” involves transferring 50 billion dollars to Ukraine, of which 20 billion is provided by the European Union. In total, under this program, European allies have already allocated 5 billion euros to Ukraine.