Ukraine will receive the first funds from the frozen assets of the Russian Federation this summer.

This summer, the European Council hopes to direct to Ukraine the first revenues from profits generated by the assets of the Russian Central Bank, which were blocked in Europe after the Russian full-scale invasion.

In addition, the European Council instructed the executive structures of the EU to work out a legislative framework for granting Ukraine, together with the G7 partners, an additional loan of €50B by the end of the year, which will be serviced with proceeds from Russian assets. These resources will be directed to Ukraine’s current and future support in the military sphere to ensure budgetary stability and to make efforts to restore the country.

According to EU law, Russian assets must remain frozen until Russia stops its war of aggression against Ukraine and compensates it for the damage caused by that war.