According to European Commission’s press service, the European Union has received the third transfer of windfall revenues from the frozen assets of the Russian Central Bank, amounting to €1.6 billion, of which 95% (over €1.5 billion) will be allocated to cover Ukraine’s loan repayments.The third tranche of extraordinary revenues from frozen EU assets will be directed to support Ukraine.“Third transfer of €1.6 billion proceeds from immobilised Russian Central Bank assets made available in support of Ukraine,” the Commission stated.Specifically, last Friday the European Union received €1.6 billion in so-called windfall profits from the frozen assets of the Russian Central Bank, which are held in EU central securities depositories.The first such transfer took place in July 2024, and the second in April 2025.“It [the third transfer] covers revenues accumulated during the first half of 2025,” EU officials noted.“90 % of the first two tranches were used to support Ukraine via the European Peace Facility (EPF), and 10 % via the Ukraine Facility. As from this third tranche, 95 % of the proceeds will instead be used to support Ukraine via the Ukraine Loan Cooperation Mechanism (ULCM), and 5 % via the EPF. The ULCM provides non-repayable support to assist Ukraine in repaying the macro-financial assistance loan from the EU as well as loans from bilateral lenders under the mechanism,” the European Commission clarified.These windfall revenues come from assets frozen under EU sanctions imposed in response to Russia’s aggression against Ukraine. While the assets themselves remain blocked, the interest earned on the balances can be used to support Ukraine.