EU requests new tranche from frozen Russian asset interest revenue for Ukraine

The European Union has formalized a request for an additional €2.1 billion in interest revenue that is being generated from frozen Russian central bank assets to be allocated for Ukraine’s reconstruction.

This was announced by the European Commission (EC) on April 9, Caliber.Az reports citing Russian media.

According to their statement, this latest request marks the second transfer of such revenues, following the first disbursement in July 2024. The €2.1 billion reflects profits accrued during the second half of 2024 from the immobilized Russian central bank assets, which are being held in Central Securities Depositories (CSD) like Euroclear and other financial institutions.

Ukraine's Prime Minister Denys Shmyhal met the EU Economy Commissioner Valdis Dombrovskis in Brussels on April 9 for the allocation of another financial assistance tranche worth €1 billion euros as part of the G7 loan program for Ukraine that is also financed by the interest proceeds from the frozen assets.

By Nazrin Sadigova