Politics
UNDERREPORTED
EU redirects €1.4 billion of frozen Russian asset interest to Ukraine
The European Union will channel €1.4 billion in interest earned from frozen Russian assets to fund Ukraine, the European Commission announced.
The Commission said the funds, derived from interest on cash balances of Russian central-bank assets immobilised after Moscow's invasion, were transferred on August 3. Ursula von der Leyen emphasized that the money is intended to help Ukraine continue resisting Russia's illegal war. This move marks a further step in using seized Russian wealth to support Kyiv.
Why it matters
It shows the EU using frozen Russian wealth to financially support Ukraine's war effort.
In this story
EUfrozen Russian assetsinterest revenueUkraine aidUrsula von der LeyenRussia invasion€1.4 billion