Ukraine will receive financial assistance from Russian money for the first time: when will the tranche come

By the end of July 2024, the European Fund for Ukraine will receive the first payment from the Belgian depository Euroclear. It will amount to EUR 1.55 billion from the proceeds of the frozen assets of the Russian Federation.

This is evidenced by the Euroclear report. "In July 2024, Euroclear will make the first payment of €1.55 billion to the European Fund for Ukraine," the report says.

At the same time, it is noted that the total amount of Euroclear's income from frozen funds after taxes amounted to 1.7 billion euros. "The remaining part of the profit (more than 1.55 billion euros - Ed.) is set aside as an important buffer to protect against current and future risks," Euroclear said.

It is noted that in this way Euroclear "fulfills its important obligations to realize windfall income" from the frozen assets of the Russian Federation. The depository notes that it continues to "carefully comply" with sanctions against Russian assets.

In total, after Russia's full-scale invasion of Ukraine, Western countries froze about $300 billion of Russian assets. These funds cannot be used directly for the benefit of Ukraine, as no decision has been made to confiscate them completely. However, Ukraine will receive income from these assets through a special EU fund.

In addition, Ukraine will receive a $50 billion loan from the G7 countries, which will be repaid from the profits from Russia's seized assets in the EU, the US, and partner countries. The amount of Russia's frozen funds will not change after that.

The $50 billion loan will be divided among several countries. Thus, the largest contribution will be made by the US and the EU - $20 billion each.

As reported by OBOZ.UA, the European Union has preliminarily approved the provision of EUR 4.22 billion in financial support to Ukraine under the Ukraine Facility program. This happened after Ukraine fulfilled certain conditions for the assistance.

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