UK transfers nearly $1 billion in frozen Russian assets to Ukraine
Photo: British Finance Minister Rachel Reeves (wikipedia.org)
On Monday, April 14, the United Kingdom sent £752 million ($990 million) to Ukraine as part of a G7 loan using revenues from frozen Russian assets, Reuters reports.
It is noted that this latest British tranche to Ukraine is the second of three planned payments totaling £2.26 billion. The first payment took place on March 6 and amounted to £752 million. The remaining funds are expected to be paid out in 2026.
"The world is changing before our eyes, reshaped by global instability, including Russian aggression in Ukraine," Finance Minister Rachel Reeves stated.
Revenues from Russia's frozen assets
The European Commission recently announced that Ukraine will receive another 2.1 billion euros in aid from the European Union. This money is the proceeds from the frozen assets of the Russian Central Bank. This is the second such tranche. The first was provided in July 2024.
In addition, it has recently become known that Ukraine has received €1 billion in proceeds from Russian assets from the EU. The funds are to be used for priority state budget expenditures.
In March, Ukraine received the first tranche from the United Kingdom for 752 million pounds ($970 million) from frozen Russian assets.
