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EU transfers €1.4 billion interest from frozen Russian assets to Ukraine

1 min read

The European Commission announced that it has transferred €1.4 billion, generated as interest on cash balances that are part of Russian central bank assets frozen by the EU, to support Ukraine. The money was moved to the bloc on August 3 and European Commission President Ursula von der Leyen said the proceeds will be used so that "Russia must pay for the destruction it has caused" and to back Ukraine's continued resistance against Russia's illegal war. The decision shows the EU is repurposing income from immobilised Russian assets for geopolitical support, with immediate fiscal and political consequences.

The EU transferred €1.4 billion interest from frozen Russian assets to Ukraine.

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