Ukraine to receive first tranche of Russian assets in few weeks - European Commission
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Ukraine will receive the first tranche of profits from the frozen assets of the Russian Federation within the next few weeks, citing European Commission representative Christian Wigand during a press conference in Brussels.
"We have our proposal, which is in the implementation phase, agreed upon by EU member states, and now we are working to ensure that the first tranche of profits from the immobilized assets is available to Ukraine within the next few weeks," Wigand said.
He also mentioned that by the end of the current year, Ukraine will receive approximately 15 billion euros ($16.24 billion). The loan, in turn, will also be repaid from future proceeds from Russian assets.
Frozen Russian assets
At the beginning of the full-scale invasion by Russian terrorists, the West blocked Russian assets. This involves around $300 billion, although the exact amount is not known. Ukraine insisted that the funds be transferred to it as compensation, but allies were concerned about legal and reputational risks.
As European Commission Vice-President Valdis Dombrovskis explained, the frozen assets could be used as collateral for providing loans to Ukraine.
It was also previously reported that the European Union would allocate 1.4 billion euros from the income of frozen Russian assets to aid Ukraine.
