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Ukraine will receive a tranche of Russian assets in August

Jul 10, 2024

Ukraine will receive the first tranche of the proceeds from Russia's frozen assets in the amount of €1.4–1.5 billion in early August 2024.


This was reported by RBC-Ukraine, citing a statement by Ukraine's Defense Minister, Rustem Umerov.

Today, Umerov met with the EU High Representative for Foreign Affairs and Security Policy, Josep Borrell in Washington.

"I would like to thank the EU for the important decision to use the proceeds of frozen Russian assets. On May 21, 2024, the EU Council decided to allocate 90% of the proceeds of the frozen assets of the Russian Federation to the Ukraine Assistance Fund, which is part of the European Peace Facility. These funds will be used for Ukraine's defense needs," the minister said.

According to him, the total amount of interest will be €2.5–3 billion annually.

The first tranche of €1.4–1.5 billion will become available in early August 2024.

The EU and Ukraine have agreed that the first tranche will be spent in three areas:

  • ammunition
  • air defense equipment;
  • support for Ukrainian producers.
"It is important to note that the EU-funded goods must be delivered to Ukraine by the end of 2024. These decisions are extremely important for strengthening our defense capabilities and supporting Ukrainian producers," Umerov added.

Author - Serhii Kolomiets, 11/07/2024

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