The European Union transferred 1 billion euros to Ukraine from the proceeds of frozen Russian assets

Ukraine has received another tranche of financial assistance from the European Union in the amount of 1 billion euros. The funds came from the proceeds of frozen Russian assets and are part of a large-scale G7 initiative to support Ukraine.

This was announced by Prime Minister of Ukraine Yulia Svyrydenko.

It is noted that the European Union transferred another 1 billion euros to Ukraine. This tranche was financed from the proceeds from the frozen assets of the Central Bank of Russia.

“This is more than aid – it is a clear signal: Europe is resolutely strengthening Ukraine’s defense and resilience against massive missile attacks and attempts at destabilization,” the Prime Minister noted.

It is worth adding that the ERA (Extraordinary Revenue Acceleration) initiative, adopted by the G7 countries, provides for the allocation of $50 billion to Ukraine, which will be provided by revenues from frozen Russian assets. The European Union’s share in this program is €18.1 billion, or about $20 billion.

In total, the EU has already provided Ukraine with €10 billion under the initiative. The Ministry of Finance expects the remaining funds to arrive in tranches by the end of 2025.

Thus, since the start of Russia’s full-scale invasion in 2022, the total amount of financial support from the European Union for Ukraine has reached 170 billion euros.

“I thank European Commission President Ursula von der Leyen and European Commissioner Valdis Dombrovskis for their leadership and steadfastness. These funds mean lives saved, cities rebuilt, and a confident European future for Ukraine,” Svyrdenko concluded.

It is worth adding that despite the lack of funding for the war, the government continues to launch new social programs — grants for sole proprietors, cashbacks, “School Student Packages,” and resilience centers. Meanwhile, about UAH 300 billion is still missing to finance the army by the end of the year .

By the way, the UK government has announced the allocation of over £1 billion (approximately $1.3 billion) for defense support to Ukraine. The funding is being provided by funds obtained from frozen Russian assets.

It was previously reported that the European Commission is working on creating a special fund that could attract nearly 200 billion euros in frozen Russian assets . These funds are planned to be used to support Ukraine’s post-war reconstruction.

As reported, Hungary has filed a lawsuit with the Court of Justice of the European Union against the Council of the EU over its decision to use frozen Russian assets to finance aid to Ukraine.

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