Stand behind Ukrainian independent journalism when it’s needed most. Help us reach 20,000 members.

Skip to content
Edit post

EU transferring new $1-billion tranche for Ukraine covered by frozen Russian assets

by Martin Fornusek April 9, 2025 2:33 PM 2 min read
Ukraine's Prime Minister Denys Shmyhal and EU Economy Commissioner Valdis Dombrovskis in Brussels, Belgium, on April 9, 2025. (Prime Minister Denys Shmyhal/X)
This audio is created with AI assistance

The EU is allocating another financial assistance tranche of 1 billion euros ($1.1 billion) as part of the G7 loan program for Ukraine, Prime Minister Denys Shmyhal announced on April 9.

"We are grateful to our partners for supporting the economy and the rapid recovery of our country," Shmyhal said after meeting EU Economy Commissioner Valdis Dombrovskis in Brussels.

Western nations froze around $300 billion in Russian assets after Moscow launched its full-scale invasion of Ukraine in February 2022, with roughly two-thirds held in Europe.

Kyiv has been urging its foreign partners to confiscate the assets and funnel them to Ukraine's defense and reconstruction efforts, but Western leaders have been hesitant to take the step, fearing legal, political, and economic pitfalls.

Instead, the G7 members agreed to provide Kyiv with a $50 billion Extraordinary Revenue Acceleration (ERA) loan, which will be repaid with proceeds from the frozen assets.

The EU is providing around 18.1 billion euros ($20 billion) as part of the loan, with another $20 billion shouldered by the U.S. and the rest by the U.K., Canada, and Japan.

"We are delivering on our promise to support Ukraine," Dombrovskis said. "This (aid) provides crucial financing to Ukraine and makes Russia pay for its aggression."

Trump spares Russia from tariffs, but oil price plunge could wreck war economy regardless
U.S. President Donald Trump has inadvertently hit Russia’s economy after his “Liberation Day” tariffs caused oil prices to drop drastically on April 7, with potentially massive ramifications for the Kremlin’s ability to fund its ongoing war in Ukraine. Russia has so far failed to agree to a full

Independent journalism needs a community —
not a paywall.

We’re working hard to show the world the truth of Russia’s brutal war — and we’re keeping it free for everyone, because reliable information should be available to all.

Our goal: reach 20,000 members to prove independent journalism can survive without paywalls, billionaires, or compromise. Will you help us do it?

Can we reach 20,000 members?

News Feed

7:04 PM

Ultimate guide on how drones changed warfare in Ukraine.

The Kyiv Independent’s Francis Farrel provides an ultimate guide on how drones have changed the warfare in Ukraine — starting with an embed with a drone unit of the National Guard’s 14th Chervona Kalyna Brigade and providing even more insights with a step-by-step simulation on how fighting for an average village in Ukraine looks like now, three years into Russia’s full-scale invasion.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Explaining Ukraine with Kate Tsurkan
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.