EU allocates first tranche of €1.5 bln to Ukraine from frozen Russian assets

The European Union has allocated the first tranche of €1.5 billion to Ukraine, utilizing funds from frozen Russian assets, according to Ursula von der Leyen, President of the European Commission.

The initial payment has been scheduled to be transferred to Kyiv later on Friday. 

“The EU stands by Ukraine. Today, we will hand over €1.5 billion to Kyiv for the defense and reconstruction of Ukraine, derived from frozen Russian assets. There is no better symbol and no better use for the Kremlin’s money than to make Ukraine and all of Europe safer,” von der Leyen said.