Ukraine has received EUR 1 billion from the European Union, secured through profits generated from frozen Russian assets, as part of the Extraordinary Revenue Acceleration (ERA) program.
This was announced by Prime Minister of Ukraine Denys Shmyhal on Telegram, according to Ukrinform.
“Ukraine has received EUR 1 billion from the EU under the ERA program. These funds are backed by profits from immobilized assets of the Russian Central Bank. We will direct this money toward covering critical budget expenditures and strengthening our state,” Shmyhal wrote.
According to the Prime Minister, this tranche represents “a part of a fair and consistent approach: the aggressor must pay for the destruction it has caused on our land.”
Shmyhal expressed gratitude to the EU and G7 partners for this effective mechanism. He emphasized that Ukraine expects a full confiscation of Russian assets and stronger sanctions in response to Russia’s atrocities.
As previously reported by Ukrinform, the EU transferred EUR 1 billion to Ukraine in April under the ERA initiative.
Source: Ukraine receives another EUR 1B from EU under ERA program
