The European Union will transfer €1.4 billion in revenues from frozen Russian assets to Ukraine for defense and resilience, Prime Minister Sergii Koretskyi announced.
12:59 PM
The European Union will allocate €1.4 billion to Ukraine from revenues generated by frozen Russian assets, Prime Minister Sergii Koretskyi announced Wednesday. The funds will be directed toward strengthening Ukraine's defense and resilience.
"The EU will direct EUR 1.4 bln to Ukraine from revenues from frozen Russian assets. The funds will be used to strengthen defense and fortify our state's resilience," Koretskyi wrote on Telegram.
The Prime Minister emphasized that the response to Russian aggression must center on Ukraine's strengthening. "The answer to Russian terror must be the strengthening of Ukraine. For every new crime, Russia must pay," he said.
Koretskyi thanked European partners for their principled stance on the matter. He highlighted the use of frozen Russian sovereign assets as a distinct task for Ukraine's defense and reconstruction efforts.
The announcement comes as Koretskyi has previously stated that battlefield realities necessitate additional funding for Ukraine's Defense Forces in 2026. He stressed that the government will require support from the diplomatic corps in securing additional financing for military operations.
This allocation represents part of broader European Union support for Ukraine. Earlier, the European Commission allocated €3.47 billion to Ukraine under the defense block of the €90 billion Ukraine Support Loan, which was directed toward drones, missiles, air defense systems, and fighter jets.
The EU approved a €90 billion loan for Ukraine while Russian forces made minimal territorial progress in March, according to recent reports.
EU ambassadors backed the loan after Hungary lifted its veto. Final approval expected Thursday following pipeline restart.
The House voted 226-195 Thursday to approve legislation providing over $1 billion in military aid to Ukraine and imposing new sanctions on Russia, including 500% tariffs on Russian goods.
Prime Minister Keir Starmer announced Britain will negotiate participation in a European financing scheme to support Ukrainian defense capabilities.
Iranian President Masoud Pezeshkian announced the release of $6 billion in frozen funds held in Qatar as part of a recent ceasefire agreement that also lifted oil and petrochemical sanctions.
The European Commission withdrew funding after the biennale refused to exclude Russia from the event, citing concerns about normalizing the country's international presence.
