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Europe allocates $179 million from Russian asset proceeds to Ukraine

Europe allocates $179 million from Russian asset proceeds to Ukraine

She added that a fuel-fired power station is being dismantled in Lithuania To be rebuilt in Ukrainewhere 80 percent of thermal power plants were destroyed.

“We aim to restore 2.6 gigawatts of generation capacity, which represents 15 percent of Ukraine’s needs,” von der Leyen added.

At the end of last July, it was announced that European Union Securing €1.5 billion ($1.6 billion) to support Ukraine, the first tranche of money earned from profits on frozen Russian assets.

In May 2024, EU member states agreed to use profits from assets Central Bank of Russia Frozen to help arm Ukraine and finance its post-war reconstruction.

The European Union has frozen about €200 billion of Russian central bank assets held in the bloc as part of sanctions on Moscow After the outbreak War in Ukraine In 2022.

Western countries have also frozen nearly $300 billion in Russian sovereign assets.

Last June, the Russian President warned Vladimir Putin The West is against seizing frozen Russian assets or their profits, and stressed that any attempt to use these assets would be tantamount to theft and would not go unpunished.

Putin said at the time that the West, after freezing assets and foreign exchange reserves,Russia He is looking for a way to find a legal cover to seize it, “but theft will remain theft despite the deception, and it will not go unpunished.”

The Russian president added that by stealing Russian assets, the West would take another step towards destroying the system they themselves created.

He pointed to the growing distrust of Western currencies due to their restrictions, saying, “The world realizes that anyone can be next when the West seizes their country’s assets.”



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