In a first, EU transfers 1.5 billion to Ukraine using Russia's frozen assets [View all]

Source: euronews.com

The transfer is the first of its kind under the novel scheme based on Russia's immobilised assets, estimated to be worth €210 billion across the bloc.

The European Union has sent €1.5 billion to Ukraine using the extraordinary revenues obtained from the Russian Central Bank's assets that remain immobilised as part of the bloc's far-reaching sanctions.

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Brussels worries that the widespread destruction of Ukraine's power grid could trigger a humanitarian crisis and a new migration exodus come winter.

"The EU stands with Ukraine," European Commission President Ursula von der Leyen said on Friday. "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."

Read more: https://www.euronews.com/my-europe/2024/07/26/in-a-first-eu-transfers-15-billion-to-ukraine-using-russias-frozen-assets