The European Union received €1.4 billion in additional profit earned from interest on frozen assets of the Central Bank of russia and plans to transfer these funds to Ukraine. This was reported by the press service of the European Commission.
“These €1.4 billion will be directed where they are most needed: to support the Ukrainian state, maintain essential public services, and support the brave Armed Forces of Ukraine. Our commitment to Ukraine’s victory and freedom is unwavering”, - stated Ursula von der Leyen.
The EU specified that 95% of these funds will be directed through the Ukraine Loan Cooperation Mechanism, which allows covering obligations for EU macro-financial assistance and loans from G7 countries.
Another 5% of the funds will be used through the European Peace Facility to meet Ukraine’s urgent military and defense needs.
It was reported earlier that the EU leaders failed to persuade Viktor Orbán to unblock €90 billion for Ukraine.