EU will provide Ukraine with €1.5 billion in monthly aid throughout year
António Costa, President of the European Council (photo: facebook.com/antoniolscosta)
Ukraine will receive €1.5 billion monthly in financial assistance from the European Union through 2025. Payments of such tranches will begin in January, states António Costa, President of the European Council.
According to Costa, the EU will provide Ukraine with an additional 4.2 billion euros in December to “support the Ukrainian budget.”
“In addition to this, starting next month, we will provide €1.5 billion in monthly aid for another year,” the European Council president said.
Costa clarified that the EU will receive these funds from the use of frozen Russian assets, and they “can also be used for military purposes.”
According to the President of the European Council, the bloc will continue to provide Ukraine with financial, military, economic, energy, and humanitarian assistance amid ongoing Russian aggression and constant shelling of civilian infrastructure, including energy facilities.
“We want to tell Ukrainians that we have been supporting you since the beginning of this aggressive war, and you can continue to rely on us. As far as the energy sector is concerned, we will contribute to the repair of existing generating capacities as much as we can,” stated Costa.
He added that the European Union plans to increase pressure on the economy of the aggressor country, and Brussels is preparing the 15th package of sanctions against Russia.
Earlier today, Ukrainian President Volodymyr Zelenskyy said that the proceeds from frozen Russian assets would be used to produce Ukrainian weapons. It is about a billion euros from the second tranche of the EU.
Prime Minister Denys Shmyhal recently announced the allocation of $50 billion to Ukraine for frozen Russian assets.
