Ukraine to receive $1.5 billion from frozen Russian assets: European Commissioner names date

European Commissioner reveals when Ukraine will receive the first tranche of frozen Kremlin money
European Commissioner reveals when Ukraine will receive the first tranche of frozen Kremlin money. Source: Created with the help of AI

The European Union (EU) may soon provide Ukraine with €1.5 billion in macro-financial assistance. The money will be allocated from the proceeds that the Kremlin regime could receive from its frozen assets in the EU. This may happen before the end of July.

According to the European Commission, this was stated by EU Trade Commissioner Valdis Dombrovskis. "We estimate that up to EUR 3 billion will be allocated this year through our measures, and we expect to make the first payment of EUR 1.5 billion before the summer vacation," the European Commissioner explained.

The "summer vacation" in the EU institutions usually lasts from late July to early September. Dombrovskis also noted that Europe's immediate attention will be focused on using these funds for military support to Ukraine. The EU is making efforts to ensure that the first purchases can be made in the near future.

He also reminded that at the G7 summit, an agreement was signed to provide Ukraine with loans worth about $50 billion at the expense of proceeds from frozen Russian sovereign assets. Most of these assets (over 200 billion euros) are blocked in the EU. Under this agreement, Ukraine will receive additional macro-financial support by the end of the year.

"Thus, instead of the EU taxpayers, Russia itself will pay for the damage caused by Russia," Dombrovskis summarized.

As OBOZ.UA reported earlier, the Council of the European Union (EU) extended sanctions against Russia until June 23, 2025 due to the illegal occupation of Crimea and Sevastopol, supplemented in 2022 with new restrictions. The sanctions include a ban on imports of goods from Crimea, restrictions on investments and exports of certain goods and technologies for Crimean companies.

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