Ukraine receives €1 billion from EU at expense of Russian assets

Ukraine has received the third tranche of €1 billion from the European Union under the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative.

Source: Ukraine’s Finance Ministry

Details: It is noted that the ERA provides for the allocation of US$50 billion to Ukraine, of which the EU's contribution is €18.1 billion (approx. US$20 billion).

In total, Ukraine has received €5 billion from the EU under the ERA initiative. It is expected that the remaining funds will be disbursed to Ukraine in instalments by the end of 2025.

The Ministry of Finance said that under the ERA mechanism and the Ukraine Facility, the EU has allocated €8.5 billion to the state budget of Ukraine.

Background:

• On 7 March, Ukraine received the first £752 million (roughly US$940 million) from the UK, secured by proceeds from these frozen assets.
• On 13 March, Ukraine received the first tranche of CAD 2.5 billion (roughly US$1.7 billion) from Canada under the ERA initiative.
• On 20 March, Ukraine received the second tranche of €1 billion from the European Union under the ERA initiative.

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