First transfer of €1.5 billion of proceeds from immobilised Russian assets made available in support of Ukraine today

Source: European Commission Spokesperson's Service  

The EU makes available in support of Ukraine the first payment of €1.5 billion generated from immobilised Russian assets. These extraordinary revenues generated by EU operators and held by central securities depositories (CSDs) from immobilised Russian sovereign assets were made available by Euroclear to the Commission as a first instalment on 23 July. The money will now be channelled through the European Peace Facility and to the Ukraine Facility to support Ukraine’s military capabilities as well as to support the country’s reconstruction.

The immobilisation of the Russian Central Bank’s assets is a result of EU sanctions against Russia, adopted in the wake of its war of aggression against Ukraine. The extraordinary revenues generated in this context by the EU operators do not belong to Russia and are held by CSDs. The EU has now started to channel these revenues to Ukraine.

Ursula von der Leyen,President of the European Commission; said: “The EU stands with Ukraine. Today we transfer €1.5 billion in proceeds from immobilised Russian assets to the defence and reconstruction of Ukraine. There is no better symbol or use for the Kremlin’s money than to make Ukraine and all of Europe a safer place to live.”

More details in the press release and questions and answers available online.