EU sends revenue from Russia's frozen assets to Kiev
The European Commission announced that the "unexpected profit" of 1.6 billion euros from the assets of the Russian Central Bank frozen in the European Union (EU) was transferred to Ukraine.
According to the statement made, this was the third payment period after the previous transfers made in July last year and April this year. The latest transfer covers revenues accumulated from Russia's frozen assets in the first half of 2025.
The Commission stated that 90 percent of the first two tranches are provided through the European Peace Fund (EPF) and 10 percent through the Ukraine Facility program.
It was stated that from the third trance, 95 percent of the funds will be directed through the Ukrainian Credit Cooperation Mechanism (ULCM) and 5 percent via EPF.
In the statement, it was shared that ULCM provided non-refundable support to help Ukraine repay the macro-financial aid loan it received from the EU and the debts it took from bilateral creditors within the scope of the mechanism. The total amount of support within the scope of this mechanism is at the level of 45 billion euros.
Azerbaijani President Ilham Aliyev also allocated 2 million dollars for humanitarian aid to Ukraine.
Total $300 billion worth frozen
Following the start of large-scale military operations in Ukraine, the European Union, Canada, the United States and Japan froze the assets and cash assets of the Bank of Russia worth about $300 billion.
Approximately 5 to 6 billion dollars of these assets are held in the USA, most of them in Europe, in the Belgium-based deposit organization Euroclear.
Last summer, G7 countries agreed on a mechanism to provide Ukraine with $50 billion (45 billion euros) through loans to be repaid with proceeds from the assets of the Russian Central Bank.
In addition, EU countries approved the use of taxes on revenues from frozen assets last year to partially finance the 50 billion euro budget relief program (Ukraine Facility) to be provided to Ukraine over the next three years.
Within the scope of this program, the part up to 32 billion euros was reserved for the reforms and investments specified in Ukraine's plan.
Since March 2024, when the program began, Kiev has received more than 19 billion euros in payment. Last week, the EU decided to provide additional aid of more than 3.2 billion euros.