The EU has transferred another €1 billion to Ukraine from Russian assets

Ukraine has received another €1 billion from the European Union from revenues from frozen Russian assets.

This was announced by Prime Minister Denys Shmyhal.

This is the fifth tranche of macro-financial assistance from the European Union under the ERA initiative. The money will go to key state budget expenditures.

The ERA (Extraordinary Revenue Acceleration) initiative is a joint program of the G7 countries aimed at supporting Ukraine. Its essence lies in using the proceeds from frozen Russian assets to repay loans provided by the G7 countries to Ukraine. The total amount of the program is $50 billion, part of which will be used to meet defense needs.

In total, Ukraine has already received €7 billion from the European Union under this initiative.

Source: Babel