EU transfers another 1 billion euros to Ukraine from frozen Russian assets

Ukraine has received an additional 1 billion euros from the European Union, funded by proceeds from frozen Russian assets, Ukrainian Prime Minister Denys Shmyhal said, according to Kyiv-based Ukrainska Pravda.

“We are grateful to our European partners for their solidarity and trust,” Shmyhal said.

The payments are part of the European Research Area (ERA) initiative — a loan program led by the group of seven most industrialized nations. Since the beginning of the year, Ukraine has already received over $18.5 billion through this project.

Essentially, loans are disbursed to Ukraine and repaid using future profits from profits generated from Russian frozen assets held in EU financial institutions. 

“We are directing these funds toward Ukraine’s resilience and rapid recovery,” Shmyhal said.

This marks the sixth installment of macro-financial assistance from the EU, Ukraine’s Ministry of Economy reported.

“These funds will finance priority social and military expenditures in the state budget, support macroeconomic stability, and help restore critically important infrastructure,” said Ukraine’s Finance Minister Serhiy Marchenko.

Meanwhile, European Commission President Ursula von der Leyen confirmed that aid to Ukraine will continue. She announced new payments: another 1 euros billion in macro-financial support plus 3 billion euros under the Ukraine Facility program.

In June, Ukraine also received 1 billion euros from the EU sourced from frozen Russian assets.

“The ERA initiative is delivering good results, but we will not stop here. At URC-2025, we call on partners to join us in creating legal tools for the full confiscation of all Russian assets,” Shmyhal 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,” Paul Grod wrote.