The EU makes available the first €1.5 billion to Ukraine from the profits generated by immobilised Russian assets 

The EU makes available the first tranche to Ukraine from the profits generated by immobilised Russian assets

The European Commission announced on July 26 that the EU has made available the first tranche from the immobilised Russian assets to Ukraine.

The money will now be channelled through the European Peace Facility and to the Ukraine Facility to support Ukraine’s military capabilities as well as to support the country’s reconstruction.

“The EU stands with Ukraine. Today we transfer €1.5 billion in proceeds from immobilised Russian assets to the defence and reconstruction of Ukraine. There is no better symbol or use for the Kremlin’s money than to make Ukraine and all of Europe a safer place to live,” stated Ursula von der Leyen, President of the European Commission.

The first tranche of the windfall profits will provide concrete support on the ground, according to High Representative/Vice-President Josep Borrell

Notably, with €1.4 billion allocated to the European Peace Facility, we are set to finance the acquisition of priority military equipment, namely air defence, ammunition for artillery – and also through procurement for the Ukrainian defence industry.

“We are not only providing military support to Ukraine but also made in Ukraine, contributing to Ukraine’s resilience in combating Russia’s war of aggression,” emphasized Borrell.

As a reminder, six weeks ago, President of Ukraine Volodymyr Zelenskyy, speaking before the members of the German Bundestag, emphasized that all Russian assets should be involved in the full restoration of Ukraine without any compromises with the aggressor country.

Also, on the eve of the event, the European Commissioner for Economy, Paolo Gentiloni, predicted that by October, the G7 countries will conclude a framework agreement on providing Ukraine with a loan of $50 billion at the expense of immobilised Russian assets.

The full-scale war in Ukraine has been going on for 884 days.

You can follow the situation in the cities on the interactive map of hostilities in Ukraine and the map of air raid alerts in Ukraine.

fakty.com.ua