Ukrainian Prime Minister Denys Shmyhal has said that Ukraine has received another €1 billion from the European Union from the proceeds generated by frozen Russian assets.

Source : Shmyhal on Telegram

Details : On Thursday 10 July, Shmyhal said that Ukraine has received €1 billion from the EU, drawn from the proceeds of frozen Russian assets.

"The ERA initiative, which we launched together with the G7, is working," he said. "Since the beginning of the year, Ukraine has received more than US$18.5 billion from the proceeds generated by frozen Russian assets. We are directing these funds towards Ukraine's stability and ‘rapid recovery’." 

The Ukrainian prime minister stressed that the Extraordinary Revenue Acceleration (ERA) initiative is yielding positive results.

Background :

• On the same day, European Commission President Ursula von der Leyen announced continued support for Ukraine and the provision of further tranches of aid.
• She announced €1 billion in macro-financial support and €3 billion in payments under the Ukraine Facility.
• In June, Ukraine received another €1 billion from the European Union, sourced from proceeds of frozen Russian assets.

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