The European Union is sending Ukraine 1.5 billion euros ($1.6 billion) in aid on Friday, funded from proceeds from Russian assets frozen in the EU. The aid will be spent on defense and reconstruction, European Commission President Ursula von der Leyen announced on X.
“Today we are transferring €1.5 billion in proceeds from immobilized Russian assets to the defense and reconstruction of Ukraine,” von der Leyen said. “There is no better symbol or use for the Kremlin’s money than to make Ukraine and the whole of Europe a safer place to live.”
At the end of June, EU foreign ministers approved the payments.
The aid will be funded by the proceeds – such as interest – from the assets, but not by the underlying assets themselves, which will remain frozen. Ninety percent of the money will fund military aid, while 10% will go directly to Ukraine as financial aid.
