The European Commission has allocated €1.6 billion to Ukraine from the proceeds from the frozen assets of the Russian Federation

The European Commission will transfer to Ukraine the third tranche of proceeds from frozen Russian assets in the amount of € 1.6 billion. The corresponding message was published on the European Commission's website on August 11.

It is noted that on August 8, the European Union received €1.6 billion in so-called windfall profits received in the form of interest from frozen Russian assets. This is the third tranche, which covers the income accumulated in the first half of this year. The first tranche was received in July 2024, and the second in April 2025.

"90% of the first two tranches were used to support Ukraine through the European Peace Fund (EPF), and 10% through the Ukrainian Fund. Starting from this third tranche, 95% of the funds will be allocated to support Ukraine through the Ukrainian Credit Cooperation Mechanism (ULCM), and 5% through the EPF," the material says.

ULCM provides irrevocable support to assist Ukraine.

After the start of the Russian special operation in Ukraine, the EU and the G7 countries froze almost half of Russia's foreign exchange reserves by about 300 billion euros. More than 200 billion euros are located in the EU, mainly in the accounts of the Belgian Euroclear, one of the world's largest settlement and clearing systems.

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What could prompt the Europeans to lift sanctions and unfreeze Russian funds?

On May 13, French President Emmanuel Macron announced that frozen Russian assets could not be withdrawn due to the lack of a legal framework. At the same time, the French leader added that Europe uses the proceeds from frozen Russian assets to finance Ukraine.

The news is being updated