Posted:
19.12.2024 14:13:00
EU Commission promised Ukraine 18.1 billion Euros secured by proceeds from frozen Russian assets
The European Commission will provide Kiev with 18.1 billion Euros in loans secured by proceeds from frozen Russian assets, said EU Commissioner for Economy and Productivity Valdis Dombrovskis, TASS reports
photo: freepik
“Confirmed to [Ukrainian] Prime Minister Denys Shmyhal that EU Commission took the final decision to make 18.1 billion Euros available to Ukraine from the G7 Extraordinary Revenue Acceleration loans initiative,” Dombrovskis posted on X.
In October, the G7 leaders made a joint statement that said they reached agreement on providing Ukraine with $50 billion in loans. “These loans will be serviced and repaid by future flows of extraordinary revenues stemming from the immobilization of Russian Sovereign Assets, in line with G7 respective legal systems and international law,” the document said. The US undertook to supply Kiev with $20 billion while $30 billion will be provided through combined effort of J7 countries and the EU.
