Ukraine receives additional EUR 1B from EU using frozen Russian assets

Ukrainian Prime Minister Denys Shmyhal reported this on Telegram, according to Ukrinform.

According to Shmyhal, this is the fifth tranche of macro-financial assistance provided under the EU's Extraordinary Revenue Acceleration (ERA) initiative.

"The funds raised will be directed toward key expenditures in the state budget," he said.

In total, Ukraine has received EUR 7 billion through the ERA initiative, with resources secured from the proceeds of immobilized Russian assets.

"We thank our partners for their consistent and reliable support. Together, we will make the aggressor pay for all the damage inflicted on Ukraine," Shmyhal said.

As previously reported, Ukraine and the Japan International Cooperation Agency (JICA) signed an agreement to unlock $3 billion under the ERA initiative.