EU transfers €1.4 billion interest from frozen Russian assets to Ukraine
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.
Context
The EU froze parts of Russian central bank assets after Russia invaded Ukraine. Interest on those assets accrued in EU accounts. The commission has now moved €1.4 billion of that interest to support Ukraine and may use similar proceeds in…
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