EU Transfers Additional $1.6 Billion to Kyiv from Frozen Russian Assets

The European Union has transferred an additional €1.6 billion to Ukraine as part of exceptional macro-financial assistance, financed through revenues from frozen Russian assets. This information was disseminated through a statement on the European Commission's website.

The EU is determined to continue its support for Ukraine. According to reports, 90% of the first two tranches from the EU were utilized to aid Ukraine, while the remaining funds were allocated through Ukraine's credit cooperation mechanism established last October.

“Starting from this third tranche, 95% of the funds will be used to support Ukraine,” the statement stressed. “This operation is part of the EU's ongoing commitment to assist Ukraine for as long as necessary,” the declaration emphasized.

A total of €45 billion is planned to be allocated to Ukraine. It is noteworthy that the second tranche of €1 billion from the EU to Ukraine is expected to be transferred in the spring of 2025, with the first tranche in 2024.