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EU to Transfer €1.5 Billion to Ukraine for Defense and Reconstruction from Frozen Russian Assets
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![Maryna_kulakova]( "Maryna Kulakova")
-924c3c302c27387e19f6c44aaeb98745.png "Maryna Kulakova")
On July 26, the European Commission will transfer the first tranche of €1.5 billion to Ukraine from frozen Russian assets for the defense and reconstruction of Ukraine.
This was announced by the President of the European Commission, Ursula von der Leyen on X.
The EU stands with Ukraine.
— Ursula von der Leyen (@vonderleyen) July 26, 2024
Today we transfer €1.5 billion in proceeds from immobilised Russian assets to the defence and reconstruction of Ukraine.
There is no better symbol or use for the Kremlin’s money than to make Ukraine and all of Europe a safer place to live. pic.twitter.com/keDyf9Dzzd
As the European official noted, the funds will be transferred through the European Peace Facility and the Ukraine Facility program to support Ukraine's military potential and assist in the country's reconstruction.
The transferred funds are profits earned by EU operators from Russian sovereign assets frozen in Europe. It’s been reported on June 24 that EU countries approved the initial tranche of up to €1.4 billion from revenues of frozen Russian assets in military aid to Ukraine.
