EU Provides Ukraine with €1 Billion from Frozen Russian Assets

Ukrainian Prime Minister Denys Shmyhal said that Ukraine got another €1 billion from the European Union from frozen Russian assets.

The Gaze reports on this, citing the prime minister's social media post.

On Thursday, 10 July, Shmyhal said that Ukraine had received €1 billion from the EU from the proceeds of frozen Russian assets. 

"The ERA initiative, which we launched together with the G7, is working. Since the beginning of the year, Ukraine has already received more than $18.5 billion from frozen Russian funds. We are directing these funds towards Ukraine's stability and ‘rapid recovery,’ he said.  

The Ukrainian prime minister stressed that the ERA initiative is yielding good results.

On the same day, European Commission President Ursula von der Leyen announced continued support for Ukraine and the provision of further tranches of aid.

In particular, she announced €1 billion in macro-financial support and €3 billion in payments under the Ukraine Facility programme. 

In June, Ukraine received another €1 billion from the European Union from frozen Russian assets.

As The Gaze reported earlier, European Commission President Ursula von der Leyen announced on Thursday the creation of a European Fund for the Reconstruction of Ukraine in cooperation with the EU, Italy, Germany, France and Poland.