Ukraine receives about USD 1.7B from Canada funded by frozen Russian assets

This was announced by Prime Minister Denys Shmyhal on Telegram, according to Ukrinform.

“Ukraine received about USD 1.7 billion (2.3 billion Canadian dollars) from Canada under the ERA initiative. These are funds secured by revenues from frozen Russian assets,” Shmyhal wrote.

He emphasized that, together with international partners, Ukraine is making Russia pay for its crimes and destruction.

“Since the beginning of the year, including the latest tranche, we have received about USD 17.6 billion from immobilized Russian assets. I am grateful to Canada and to everyone involved in this program,” he added.

The Prime Minister reiterated that Ukraine insists on the full confiscation of frozen Russian funds. These funds are urgently needed for compensating victims of aggression and for rebuilding the country.

“This would also be an act of justice to help prevent aggressive wars in the future,” the Prime Minister noted.

As previously reported by Ukrinform, the European Commission intends to continue economic and financial support for Ukraine, and is ready to provide EUR 11 billion this year under the G7 loan-based ERA initiative.