Ansarullah Website – Reports
The European Commission announced today, Wednesday, that the European Union will draw upon €1.4 billion (approximately $1.6 billion) derived from profits on frozen Russian assets to extend financial support to Ukraine.
The Commission stated that the funds, remitted to the European Union on August 3, originated from interest accrued on cash balances—part of the Russian Central Bank assets immobilized by the EU following the outbreak of the war in Ukraine.
President of the European Commission Ursula von der Leyen affirmed that "Russia must pay for the destruction it has wrought," emphasizing that the European Union is utilizing the revenues from immobilized Russian assets to enforce this accountability.
Von der Leyen added that an additional €1.4 billion would be designated for Ukraine, noting that these funds will bolster "Ukraine's ongoing resilience against the war waged by Russia."
Since the inception of the war in Ukraine in 2022, the European Union has imposed sweeping sanctions on Russia—including the freezing of Russian Central Bank assets—as part of its economic pressure campaign against Moscow.
