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EU allocating €6bn to Ukraine from frozen Russian funds - von der Leyen

EU allocating €6bn to Ukraine from frozen Russian funds - von der Leyen Ursula von der Leyen (photo: Getty Images)

Ukraine will receive a new tranche of €6 billion from the European Union, sourced from the revenues of frozen Russian assets, according to a statement by the European Commission's President, Ursula von der Leyen.

"In just one day last week, Russia launched more than 40 ballistic and cruise missiles, and almost 500 drones targeting Ukraine's energy infrastructure. Two major power plants were destroyed," the head of the European Commission said.

She also emphasized that today the European Union will allocate nearly €6 billion from the ERA loan and the Ukraine Fund.

"And Europe will continue to empower Ukraine's resistance. We will repair the damage done by the Russian strikes. We will stabilize Ukraine's energy grid – with over 2 gigawatts of electricity exports from our Union to Ukraine. And we will protect critical infrastructure – for example, with new anti-drone equipment. This winter will shape the future of the war, and our response must rise to the challenge," she added.

Ukraine's international partners continue searching for ways to cover the state budget deficit for 2025. One option now actively discussed is the creation of a so-called reparations loan, which would allow frozen Russian assets to be directed toward supporting Ukraine.

Against this backdrop, Ukrainian President Volodymyr Zelenskyy has urged Europe to use Russian assets and overcome the disagreements that have emerged.

Despite delays in implementing the relevant decisions, there are currently no critical risks to state finances, as the budget needs for the current year have already been secured.

Meanwhile, the European Commission is developing a new financial assistance plan for Ukraine, with details expected to be released soon.