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Military operation in Ukraine

Kiev to get $1.5 billion from frozen Russian assets in July

90% of them will be used to finance Kiev’s military spending, the remaining 10% will be directed for reconstruction

Kiev TASS

Kiev

MOSCOW, June 15. /TASS/. In accordance with the European Union’s decision, Ukraine will receive 1.5 billion euro in incomes from immobilized Russian assets in July, the Ukrainian finance ministry said.

"The EU has agreed to allocate incomes from immobilized Russian assets, worth 1.5 billion euro. Ukraine is expected to receive the funds in July 2024," the ministry said in a statement, posted on its website.

90% of them will be used to finance Kiev’s military spending, the remaining 10% will be directed for reconstruction.

The EU, US, Japan and Canada seized Russia's assets in the amount of about $300 billion after the start of the special military operation. Of this, about $5-6 billion is located in the United States, and most of it is in Europe, including the Euroclear international platform in Belgium ($210 billion is stored there). Earlier, the European Commission approved a proposal to use proceeds from seized Russian funds to provide assistance to Kiev. The US Congress approved a package of bills on providing military assistance to Israel, Taiwan and Ukraine, as well as on the confiscation of frozen assets of Russia for their actual transfer to Kiev.

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