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EU Allocates Over $1 Billion to Ukraine from Frozen Russian Assets
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![Photo of Roman Kohanets]( "Photo of Roman Kohanets")
-111f0e5095e02c02446ffed57bfb0ab1.jpeg "Photo of Roman Kohanets")
Ukraine has received about $1.175 billion from the European Union’s share of profits on frozen Russian assets under the G7-led Extraordinary Revenue Acceleration (ERA) initiative, Prime Minister Denys Shmyhal announced on July 10, bringing total transfers this year to more than $18.5 billion for resilience and rapid reconstruction.
Prime Minister Shmyhal wrote on X that “the ERA initiative, launched by us together with the G7, is working. Since the beginning of the year, Ukraine has already been transferred more than $18.5 billion from frozen Russian funds. We are directing these resources toward Ukraine’s resilience and ‘rapid recovery’”.
Expressing gratitude to European partners for their solidarity and trust, Shmyhal noted that the success of ERA reflects growing confidence in Ukraine’s reform trajectory and financial stewardship. He added that these funds are being deployed across frontline regions to restore services and support civilian communities affected by the war.
Looking ahead to the Ukraine Recovery Conference (URC-2025), he urged international partners “to work with us to create legal instruments for the full confiscation of all Russian assets,” signalling Ukraine’s push for a permanent mechanism to repurpose such assets for its reconstruction.
Earlier, global leaders gathered in Rome to unveil a plan for recovery for Ukraine, presenting a coordinated framework for multilateral funding, equity investments, and policy reforms to expedite post-war reconstruction and boost economic resilience.
Leaders from the EU, US, UK, Italy, Germany and Canada endorsed measures to streamline grant allocation, mobilize private capital, and support Ukraine’s infrastructure, energy sector and governance reforms.
