Ukraine to receive 1.5 billion euros in profits from frozen Russian assets in July
Illustrative photo: Ukraine will receive $1.5 billion in July from frozen Russian assets (Getty Images)
Countries of the G7, during the summit in Italy, have agreed to allocate about $50 billion to Ukraine by the end of the year. These funds will be repaid using future revenues obtained from frozen Russian assets, according to the Ministry of Finance of Ukraine.
"This is expected that Ukraine will receive the funds in July 2024. 90% will be used for defense needs and 10% for reconstruction and recovery," the statement says.
Use of frozen assets of the Russian Federation
The European Union has recently approved the transfer of revenues from frozen Russian assets to Ukraine.
In this regard, the G7 countries have developed an initiative to provide Ukraine with significant funds in a short time. This loan will be repaid from the revenues from Russian assets.
The fact that the G7 countries supported this initiative became known yesterday, June 13.
