Ukraine will receive €1.5 billion from Russian frozen assets revenues in July – European Commission

European Commission President Ursula von der Leyen said that in July, the first €1.5 billion of revenue from frozen Russian assets will be transferred to Ukraine. 

Source: Ursula von der Leyen at the Ukraine Recovery Conference in Berlin on Tuesday; Interfax-Ukraine

Quote: "About EUR 1.5 billion of windfall revenue will be available as early as July – 10% will go to reconstruction and restoration, a large percentage to defence," Ursula von der Leyen said. 

The president of the European Commission also said that the participants of this week’s G7 summit will discuss how Ukraine will be able to get benefits from frozen Russian assets even faster.

At the same time, Ursula von der Leyen stated that the EU made it possible to use unpredictable revenues from frozen Russian assets under international law.

Background:

Ukraineʼs Prime Minister Denys Shmyhal says that Ukraine requires from US$10 billion to US$30 billion of annual investment over the next ten years. 

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