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

Author:
Olha Bereziuk
Date:

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.