The European Union is developing a plan to generate more revenue for Ukraine by shifting nearly 200 billion euros ($215 billion) in frozen Russian assets into higher-yield, riskier investments, Politico reported on June 19, citing unnamed sources. The assets, largely held by Belgium-based clearinghouse Euroclear, have been immobilized since 2022 under EU sanctions imposed following […]
Ukraine has received another 1 billion euros ($1.1 billion) in macro-financial assistance from the European Union as part of a G7 loan, Prime Minister Denys Shmyhal announced on June 13. “This is the fifth tranche of macro-financial assistance from the EU under the ERA Extraordinary Revenue Acceleration) initiative,” Shmyhal wrote on social media. “The funds […]
Finland will supply heavy ammunition to Ukraine using proceeds from frozen Russian assets, the country’s Ministry of Defence said on May 19. The move is part of a broader European Union initiative to channel profits from immobilized Russian assets into support for Ukraine’s defense. Finland has reached an agreement with the European Commission to implement […]
Secretary of State Marco Rubio and Special Envoy Steve Witkoff are pushing back against a report saying they have discussed lifting sanctions on Russian energy assets, calling the anonymously sourced article from Politico “totally fictitious” and “fake crap.” The outlet released a report citing internal White House officials Thursday, indicating Witkoff and Rubio had been […]
The EU is allocating another financial assistance tranche of 1 billion euros ($1.1 billion) as part of the G7 loan program for Ukraine, Prime Minister Denys Shmyhal announced on April 9. “We are grateful to our partners for supporting the economy and the rapid recovery of our country,” Shmyhal said after meeting EU Economy Commissioner […]
Kremlin negotiator Kirill Dmitriev has been visiting not only the United States but several other countries in an effort to unlock frozen Russian assets, President Volodymyr Zelensky said at a briefing on April 4. Since 2022, G7 nations have frozen roughly 300 billion euro ($310 billion) in Russian central bank assets, with the majority—around 190 […]
The European Commission has disbursed an additional 1 billion euros ($1.1 billion) in Macro-Financial Assistance (MFA) to Ukraine, to be repaid with proceeds from frozen Russian assets, the commission announced on March 20. “With today’s payment of 1 billion euros, we are reiterating our steadfast commitment to Ukraine. We are helping the country’s economy stay […]
France, Germany, and the UK are exploring ways to seize over 200 billion euro ($210 billion) in frozen Russian assets as part of efforts to negotiate a ceasefire in Ukraine, officials familiar with the discussions told Financial Times (FT). While Berlin and Paris had previously resisted full asset confiscation, they are now engaging in talks […]
The United Kingdom signed an agreement with Kyiv on March 1 to provide Ukraine with a loan worth 2.26 billion pounds ($2.84 billion) backed by frozen Russian assets. The loan, which is part of the Group of Seven’s (G7) Extraordinary Revenue Acceleration (ERA) credit initiative, was signed amid President Volodymyr Zelensky’s visit to London to […]
The European Union will receive a second tranche of 2 billion euros ($2.05 billion) from profits generated by frozen Russian Central Bank assets that are meant for Ukraine and its war effort. Euroclear, the Belgian-based clearing house, sent its first payment of 1.55 billion euros ($1.7 billion) last July after the EU passed legislation that […]
A Ukrainian court has frozen the assets of Russian businessman Oleg Deripaska worth Hr 2.1 billion (nearly $50 million), the Security Service of Ukraine (SBU) announced on Jan. 29. Deripaska, formerly Russia’s richest man and founder of the Basic Element industrial group and the Rusal aluminum company, was sanctioned by the U.S. in 2018 and […]
Kyiv and Rome are discussing the possibility of purchasing Italian-made air defense systems and ammunition using profits from immobilized Russian assets, the Ukrainian Defense Ministry said on Jan. 11. “We are interested, among other things, in ammunition of various calibers and air defense systems,” Ukrainian Deputy Defense Minister Anatolii Klochko said after talks with Italian […]