EU plans to fund Ukraine with profits from frozen Russian assets through 2025

The European Union plans to keep 210 billion euros in Russian assets frozen at least until the end of 2025, using the windfall profits they generate to support Ukraine.

European Commission spokesperson Markus Lammert announced this during a press briefing in Brussels on June 19, Ukrainska Pravda reports.

“We have immobilized Russia’s assets, of which there are 210 billion euros in the EU, and we are using the profits from these assets to support Ukraine with the 45 billion euros [in] G7 loans,” Lammert said.

He said the funds are being directed toward Ukraine’s defense industry and energy sector recovery.

“These loans will then be repaid by future flows of extraordinary revenues from immobilised Russian assets,” he said.

The first 3 billion euro payment was transferred to Ukraine in January.

“One billion euros in March, another billion in April, 1 billion euros in May, and 1 billion euros last Friday [June 13]. The disbursements will continue in the course of this year,” Lammert said.

He emphasized that the EU has consistently maintained that Russia must be held financially accountable for the vast damage caused by its war.

“Legally sound and financially viable options must remain on the table to compensate for the damage done by Russia to Ukraine, and we need to continue discussing this,” he said.

Earlier, the UWC President called for the confiscation of Russian assets.

“Finding the right formula to fund Ukraine with Russia’s frozen assets should be an international priority. This will reduce the financial pressure on Western countries and undermine economic arguments against continued international support for Ukraine,” UWC Paul Grod wrote.