The European Union has announced a new financial transfer of €1.4 billion generated from frozen Russian central bank assets to support Ukraine. The move involving EU frozen Russian assets comes as Brussels continues efforts to use profits from immobilized funds while keeping the original reserves untouched.
According to the European Commission, the latest payment is the fifth transfer made from revenues generated by Russian assets frozen after Moscow’s full-scale invasion of Ukraine in 2022. The Commission said these assets have produced around €8 billion in additional profits since they were immobilized.
The EU said most of the latest funds will be directed through the Ukraine Loan Cooperation Mechanism. Around 95 percent of the amount will help Ukraine repay loans provided by the European Union and G7 countries, while the remaining funds will be used through the European Peace Facility for urgent military and defense requirements.
European Commission President Ursula von der Leyen said the financial support was aimed at helping Ukraine continue its resistance against Russia. She stated that Russia should bear responsibility for the destruction caused by the war and that profits from frozen assets were being used to assist Ukraine.
The announcement followed another deadly Russian missile and drone attack on Kyiv. Ukrainian officials reported casualties after strikes hit residential areas, warehouses, and other locations. Ukrainian President Volodymyr Zelenskyy said stronger air-defense support could have helped prevent some losses.
The issue of EU frozen Russian assets has remained a major part of international discussions since the beginning of the conflict. More than €210 billion in Russian central bank reserves have been frozen by the European Union, with financial institutions required to separate profits generated from these funds.
The latest transfer highlights the EU’s continued financial support for Ukraine and its approach of using earnings from frozen Russian assets without directly transferring ownership of the original reserves. Officials said further assistance would continue as the conflict and humanitarian challenges remain ongoing.
