European Commission to Transfer €6 Billion to Kyiv from Frozen Russian Assets

The European Commission plans to transfer nearly €6 billion to Kyiv as part of a €45 billion loan provided by the G7. This amount has been generated from the revenues obtained from frozen Russian assets, as well as funds created for Ukraine from a special EU fund. This was announced by European Commission President Ursula von der Leyen during her address at the European Parliament, as reported by UNN.

According to von der Leyen, the EU has committed to providing approximately €18 billion in loans to Ukraine, which will be repaid specifically from the revenues generated by Russian assets. This funding is included in the overall €45 billion package agreed upon by the G7.

It is also noted that Moscow has responded strongly to any intentions of seizing the frozen Russian assets, with the Russian Foreign Intelligence Service declaring that Belgium will face an “extremely painful” response should such steps be taken.

Currently, more than €200 billion in Russian assets are frozen across the European Union, with about €185 billion held in the Belgian Euroclear depository.