EU Sends Over $1 Billion to Ukraine

Ukraine has received $1.175 billion from the European Union, taken from profits made on frozen Russian assets.

The money is part of the G7-backed Extraordinary Revenue Acceleration (ERA) plan and brings the total sent to Ukraine this year to over $18.5 billion.

“The ERA Initiative is Working”

Ukrainian Prime Minister Denys Shmyhal shared the news on Telegram, saying the ERA program is helping fund fast recovery efforts in areas hit by the war.

“Since the beginning of the year, Ukraine has already been transferred more than $18.5 billion from frozen Russian funds,” he said. “We are directing these resources toward Ukraine’s resilience and rapid recovery.”

Shmyhal thanked EU partners for their support and said this shows growing trust in Ukraine’s reforms and its ability to manage international aid responsibly.

Help for Regions Damaged by War

The money is being used to restore key services in areas close to the front lines and other war-affected parts of the country.

The goal is to rebuild quickly and improve daily life for civilians still living under threat.

The ERA plan uses profits from about $300 billion in Russian state assets frozen by Western countries after Russia’s full invasion in 2022.

While there’s still debate over whether these assets can be fully seized, countries have agreed that the profits can be used to help Ukraine.

Call for Full Seizure of Russian Assets

Looking ahead to the Ukraine Recovery Conference in 2025, Shmyhal said it’s time to go further and create legal tools to fully confiscate all Russian assets. Ukraine hopes this can lead to more stable, long-term support.

“We urge international partners to work with us to create legal instruments for the full confiscation of all Russian assets,” he said.

Many countries are still cautious about going that far, but pressure is growing as the war continues.

Plans for Long-Term Recovery Take Shape

This latest payout comes as global leaders work on a wider plan to rebuild Ukraine.

At a meeting in Rome, leaders from the EU, US, UK, Germany, Canada, and Italy backed a recovery plan that will use public and private money to fix roads, power lines, and other key infrastructure.

The plan also focuses on helping Ukraine’s economy and government become more stable, with efforts to attract investment and fight corruption.