The European Commission has released EUR 3 billion worth of frozen Russian assets in Europe to Ukraine on January 10. The money comes under the region's special Macro-Financial Assistance (MFA) programme for Ukraine.
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| Ukraine receives an additional 3 billion euros from Europe. Most of the money comes from interest on frozen assets of the Russian Central Bank. (Source: Getty Images) |
"Today (January 10), we transfer 3 billion euros to Ukraine, the first tranche from the EU's share of the G7 loan package. This gives Kiev financial strength," European Commission President Ursula von der Leyen said.
Ukrainian Prime Minister Denys Shmyhal also confirmed the transfer in a statement on Telegram.
The majority of the funds used to lend Kiev come from the interest on the frozen assets of the Central Bank of Russia in the European Union (EU) countries, estimated at around 210 billion EUR.
Since February 2022, these assets have been frozen as part of sanctions against Moscow for conducting a special military operation in Kiev.
The interest generated from the frozen assets has generated an exceptional revenue stream, estimated at EUR 2.5-3 billion per year.
The European Council has decided to use these extraordinary revenues to support Ukraine, with EUR 1.5 billion disbursed by the end of July 2024.
Russia strongly condemned the sanctions and the use of frozen assets, considering them an act of "international theft".
However, the 27-member bloc stressed that this money will never be returned to Russia, even if the freeze ends.
The use of frozen Russian assets to support Ukraine is expected to continue to cause geopolitical tensions and strong reactions from President Putin's country.
Source: https://baoquocte.vn/tai-san-nga-bi-phong-toa-chau-au-ban-tien-cho-ukraine-eu-tuyen-bo-khong-bao-gio-tra-lai-300538.html
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