Kyiv receives over €10 billion from frozen Russian assets so far in 2025

In the first seven months of 2025, the European Union (EU) transferred €10.1 billion to Ukraine, generated from the proceeds of frozen funds belonging to the Russian Central Bank.

The data was reported by the Welt am Sonntag newspaper, citing figures from the European Commission.

According to the report, the funds are being allocated to support both military and civilian projects in Ukraine. The disbursement schedule shows that €3 billion was transferred in January, followed by €3.1 billion in April. Additional €1 billion tranches were made in March, May, June, and July, each directed to Kyiv from profits earned on the frozen Russian assets.

Despite the ongoing transfers, some European politicians — including members of Germany’s political establishment — are urging the EU to go further by handing over the entire amount of frozen Russian assets to Ukraine, not just the profits derived from them.

“It is high time to make direct use of Russian funds,” said Marie-Agnes Strack-Zimmermann, a German member of the European Parliament, in comments to Welt am Sonntag. “Whether it is to support the Ukrainian economy or to finance weapons systems.”

However, many economists have warned of significant risks if the EU decides to confiscate the full amount of Russian state assets.

“This whole issue is quite emotional,” noted Nicolas Veron, a French economist affiliated with the Brussels-based Bruegel think tank and the Peterson Institute for International Economics in Washington. “Many people believe that it is morally right to transfer the frozen funds to Ukraine. However, it is not that simple. After all, central banks must be confident that their cash reserves abroad are safe.”

The European Commission confirmed that on August 11, it received a third tranche of proceeds amounting to €1.6 billion from the reinvestment of illegally blocked Russian sovereign assets.

According to earlier announcements by the Commission, 95% of these funds are allocated to cover Ukraine’s international loan payments — including loans provided by the European Union and its member states — while the remaining 5% is directed toward urgent military needs, with arms procurement handled through the European Peace Fund.

Currently, approximately €200 billion in Russian sovereign assets remain frozen within the European Union, the majority of which are held in accounts with the Euroclear depository in Belgium.

By Tamilla Hasanova