EU to transfer €1.4 billion to Ukraine from frozen Russian asset profits

Published Aug 5, 10:08 AM UTC

European Commission President Ursula von der Leyen announced that the EU will transfer €1.4 billion to Ukraine, raised from windfall profits of frozen Russian central bank assets. This follows a deadly overnight missile and drone barrage on Kyiv that killed at least 17 people and wounded dozens. The EU has frozen around €200 billion of Russian assets since the 2022 invasion, with much held in Euroclear. This is the fifth tranche of such profits, bringing total transfers to €8 billion. Von der Leyen stated that Russia must pay for its destruction. Ukraine has recently stabilized front lines and struck inside Russia, but faces critical air defense shortages as Russian attacks on Kyiv intensify.