The EU transfers €1.5 billion from Russiaʼs frozen assets to Ukraine

The European Commission today transfers €1.5 billion from frozen Russian assets for the defense and reconstruction of Ukraine.

This was announced by the head of the European Commission Ursula von der Leyen.

"There is no better symbol or use for the Kremlinʼs money than to make Ukraine and all of Europe a safer place to live," she wrote.

The European Commission clarified that this refers to the income received by EU operators and central securities depositories from frozen Russian sovereign assets.

They will be transferred through the European Peace Fund and the Ukraine Facility program to support the military potential of Ukraine, as well as to restore the country.

• The value of frozen Russian sovereign assets in the EU is almost €211 billion. In total, the European Union, the G7 countries and Australia have frozen approximately €260 billion in securities and cash.
• In June, the "Big Seven" countries agreed to provide Ukraine with a $50 billion loan by the end of the year, which will be repaid with profits from Russian assets.
• And on June 24, the EU approved military aid to Ukraine from revenues from the assets of the Russian Federation.