Ukraine to Receive First €1.4 Billion from Frozen Russian Assets in Early August

The first tranche of €1.4 billion from frozen Russian assets will be received by Ukraine at the beginning of August, possibly as early as next week.

This announcement was made by Josep Borrell, the High Representative of the European Union for Foreign Affairs and Security Policy, during a press conference following the meeting of EU foreign ministers.

Borrell informed the ministers about the progress regarding the first tranche of €1.4 billion, noting that it is expected to be transferred at the beginning of August — potentially next week.

The EU's chief diplomat reiterated that these funds will be used to purchase critical military equipment for Ukraine, such as air defense systems and artillery shells, and to support the Ukrainian defense industry.

"Therefore, we will not only provide military support to Ukraine, but also from Ukraine itself. Which, of course, is the most logical and effective path we can take," stated the EU high representative.

Borrell emphasized that one of the primary topics at the meeting was the urgent need to bolster Ukraine's air defense capabilities, especially following recent Russian attacks on civilian targets, including a children's hospital in Kyiv. There is also a pressing need to restore Ukraine's energy sector ahead of winter.

Additionally, Josep Borrell reported that EU foreign ministers once again failed to reach an agreement on unlocking funds from the European Peace Facility, which finances arms deliveries to Ukraine, during today's meeting in Brussels.

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.