Kiev to receive $1.5 billion from frozen Russian assets in July

Photo: TASS

MOSCOW, 15 June. /TASS/. In accordance with the decision of the European Union, Ukraine will receive 1.5 billion euros in July from the revenues from immobilized Russian assets, the Ukrainian Finance Ministry said. 90 % of it will be used to finance Kiev's military expenditures, the remaining 10 % will be directed to reconstruction.

"The EU has agreed to allocate revenues from immobilised Russian assets worth €1.5 billion. Ukraine should receive these funds in July 2024," the ministry said in a statement published on its website.

The EU, the US, Japan and Canada seized approximately $300 billion in Russian assets after launching a special military operation. Of this, about $5-6 billion is in the United States and most is in Europe, including the international Euroclear platform in Belgium (where $210 billion is stored). Earlier, the European Commission approved a proposal to use the proceeds of seized Russian assets to provide aid to Kiev. The US Congress has passed a package of bills to provide military aid to Israel, Taiwan and Ukraine and to confiscate Russia's frozen assets in order to effectively transfer them to Kiev.

TASS/gnews.cz-jav_07