EU Approves €1.4 Billion for Ukraine Financed by Frozen Russian Assets

The European Union will allocate €1.4 billion (around $1.6 billion) to Ukraine using proceeds generated from Russian frozen assets, Ukrainian Prime Minister Serhii Koretskyi announced on August 5.

According to Koretskyi, the funding will be used to strengthen Ukraine's defense capabilities and enhance the country's resilience amid Russia's ongoing full-scale invasion.

“The response to Russian terror must be a stronger Ukraine. Russia must pay for every new crime it commits,” Koretskyi said.

He also thanked Ukraine's European partners for what he described as their principled support.

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European Commission President Ursula von der Leyen said the latest allocation would help reinforce Ukraine's ability to resist Russian aggression.

“Once again we wake up to the news of horrible atrocities by Russia through its aerial attacks on Ukraine. Russia must pay for the destruction it has caused. And we are using the proceeds from the immobilised Russian assets to make sure it does,” she said.

The initiative follows broader international efforts to use proceeds from frozen Russian assets to support Ukraine. One of the proposed uses for those funds is financing the future Special Tribunal on the crime of aggression against Ukraine, which Ukrainian officials have previously identified as a potential source of funding for the court's operations.

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