Frozen Russian assets are working: Ukraine received 1 billion euros for reconstruction

Ukraine received 1 billion euros from the European Union in the form of profits from frozen Russian assets.

This was announced by Prime Minister of Ukraine Denys Shmyhal.

“The ERA initiative we launched together with the G7 is working. Since the beginning of the year, more than $18.5 billion has already been transferred to Ukraine from Russian frozen money. We are directing these funds towards Ukraine’s stability and “rapid reconstruction,” Shmyhal said.

He also added that the ERA initiative is yielding good results, but the Ukrainian government will not stop there.

Shmyhal said that at URC-2025 he would call on Ukraine’s partners to form legal instruments for the complete confiscation of all Russian assets.

Recall, Ukraine and the Japan International Cooperation Agency signed an agreement necessary to receive $3 billion under the Extraordinary Revenue Acceleration (ERA) initiative.

As reported, the Finnish government will send ammunition to Ukraine using profits from frozen Russian assets.

By the way, the European Union is developing a plan that will increase aid to Ukraine. Thus, the EU seeks to obtain additional billions of euros from frozen Russian assets , transferring them into “riskier investments.”

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