BRUSSELS, November 13. /TASS/. The European Commission (EC) has announced the allocation of around 6 bln euros to Ukraine under the ERA (Extraordinary Revenue Acceleration) credit line, the total amount of which equals up to 45 bln euros and which is provided by G7 countries against proceeds from the reinvestment of Russian frozen assets, EC President Ursula von der Leyen said.
"We will disburse today almost 6 billion euros from the ERA loan," von der Leyen said. She acknowledged that the main objective of these actions by the European Commission is to increase the costs for Moscow of conducting the special military operation in Ukraine.
The tranche also includes funds from the Ukraine Facility, the EC chief added.
In turn, the European Union's economy commissioner Valdis Dombrovskis explained on social media X that under the ERA program, the EU is providing 4.1 bln euros to Ukraine, and this completes the EU's ERA credit line. This European credit line amounted to 18.1 bln euros of the total ERA of 45 bln euros.
Dombrovskis previously said that financial risks surrounding Ukraine had grown so great that the EU and IMF could no longer attract commercial loans to Kiev to finance it in 2026-2027. They are now considering only grants or non-repayable support for Ukraine. That said, EU countries do not have free funds for this, which is why EU countries can only independently take out government loans to provide money to Ukraine or expropriate Russian assets.
In her speech to the European Parliament, the head of the European Commission also once again stated that the EC considers the expropriation of Russian assets under the guise of a so-called reparations loan to be the best measure for the EU to support Ukraine in 2026-2027.
Belgium, where the bulk of Russia's around 200 bln euros of sovereign assets in the EU are frozen, continues to block their expropriation, fearing Moscow's response.