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Ukraine to Receive Nearly $3 Billion From Japan, Funded by Frozen Russian Assets

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Maryna_kulakova
Maryna Kulakova
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Ukraine to Receive Nearly $3 Billion From Japan, Funded by Frozen Russian Assets
A protester holds a Ukrainian flag while marching during the demonstration. A demonstration protesting Russia's invasion of Ukraine was held around Shibuya Ward in Tokyo. (Source: Getty Images)

Ukraine will receive almost $3 billion from Japan under the ERA (Extraordinary Revenue Acceleration for Ukraine) mechanism, funded by profits from frozen Russian assets, Ukrainian Prime Minister Denys Shmyhal announced on May 30 following a government meeting.

Shmyhal stated, “Today, we made the decision necessary to attract these funds, which will be secured by profits from frozen Russian assets.”

He also confirmed that the funds would be directed toward financing priority budget expenditures.

The ERA mechanism, supported by G7 countries, aims to provide Ukraine with a total of $50 billion, sourced from profits generated by the freezing of Russian sovereign assets.

On May 27, the Ukrainian Ministry of Defense confirmed that the United Kingdom will allocate $3 billion to Ukraine’s defense sector, funded by profits from frozen Russian assets under the G7’s ERA initiative, and earlier, in May, Finland has joined a list of EU countries channeling proceeds from frozen Russian assets toward Ukraine’s defense.

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