EU Releases €1.4 Billion from Frozen Russian Asset Profits to Support Ukraine

European Commission President Ursula von der Leyen announced that €1.4 billion in profits generated from immobilized Russian assets will be allocated following Russia's deadly strikes on Kyiv.

European Commission President Ursula von der Leyen has announced additional financial support for Ukraine. [Photo: КМДА, Олексій Самсонов]

Most of the funds will be used to repay G7 and EU loans, while €70 million will be directed toward military assistance, Sandor Zsiros reported for Euronews.

Von der Leyen condemned Russia's "horrible atrocities" following overnight attacks on Ukraine and announced the funding through a post on X, one day after Russian ballistic missile and drone strikes on Kyiv killed at least 17 people.

"Once again we wake up to the news of horrible atrocities by Russia through its aerial attacks on Ukraine. Russia must pay for the destruction it has caused," von der Leyen said.

She added that the €1.4 billion would "support Ukraine's continued resistance against Russia's illegal war."

The European Union froze Russian Central Bank assets within its jurisdiction shortly after Russia launched its full-scale invasion of Ukraine in 2022. While the principal assets remain frozen, the profits generated from them have been used to support Ukraine.