The European Commission is transferring €1.5 billion of frozen Russian assets to Ukraine for defense and reconstruction, Babel reports.
This was announced by the head of the European Commission Ursula von der Leyen.
There is no better symbol or use for the Kremlin’s money than to make Ukraine and the whole of Europe a safer place to live, – she wrote.
The European Commission clarified that it is about the income received by EU operators and central securities depositories from frozen Russian sovereign assets.
The money will be transferred through the European Peace Facility and the Ukraine Facility program to support Ukraine’s military capabilities and to support the country’s recovery.
It is worth noting that the value of frozen Russian sovereign assets in the EU is almost €211 billion. In total, the EU, G7 countries and Australia have frozen approximately €260 billion in securities and cash.
Also, in June, the G7 countries agreed to provide Ukraine with a $50 billion loan by the end of the year, to be repaid with profits from Russian assets.
And on June 24, the European Union approved military aid to Ukraine from the proceeds of Russian assets.
