The European Union has released another €1 billion in financial aid to Ukraine as part of the G7’s €45 billion Extraordinary Revenue Acceleration (ERA) initiative, funded by proceeds from immobilised Russian assets.
"Today we disburse a further €1bn under the €45bn G7 Extraordinary Revenue Acceleration initiative," Caliber.Az quotes EU Economy Commissioner Valdis Dombrovskis as saying on X.
"The EU continues to support Ukraine. This comes on top of the €6bn already delivered to Kyiv, with a further €12.1bn to be distributed later this year," he added.
To recall, as of May 2025, the European Union has intensified its financial support for Ukraine by leveraging proceeds from frozen Russian assets. In July 2024, the EU transferred €1.5 billion from interest accrued on immobilized Russian central bank funds, primarily to bolster Ukraine's defense and reconstruction efforts.
Building on this initiative, the EU approved a €35 billion loan, backed by future revenues from these frozen assets, as part of the G7's $50 billion support package for Ukraine. This loan, disbursed throughout 2025, offers Ukraine flexibility in allocation, including military expenditures .
Additionally, starting December 2024, the EU committed to monthly transfers of €1.5 billion from the proceeds of frozen Russian assets to Ukraine, further reinforcing its economic and military resilience.
By Aghakazim Guliyev
Source: caliber.az
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