EU allocates over $100 million from Russian frozen assets to support Ukraine in winter
"Russia must pay for the destruction it caused," von der Leyen said.
Russian frozen assets
Czechia to use frozen Russian assets profits to fund ammunition for Ukraine
"This is another evidence of the allied trust in Czechia and our ammunition initiative. It is a unique opportunity to support Ukraine while using assets originally belonging to Russia and saving on public finances of European countries," Czech Defense Minister Jana Cernochova said.
Germany likely won't approve additional military aid to Ukraine this year, media reports
According to FAZ, Ukraine will receive previously approved assistance, but additional requests from the German Defense Ministry will not be supported.
EU transfers Ukraine $1.6 billion of proceeds from frozen Russian assets
"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," said European Commission President Ursula von der Leyen.
G7 to finalize plan by October on $50 billion loan for Ukraine backed by Russian assets revenue
The Group of Seven (G7) will likely finalize a framework agreement for a $50 billion loan for Ukraine backed by frozen Russian assets revenue by October, EU Economic Commissioner Paolo Gentiloni said on July 25.
Ukraine to receive $1.5 billion in frozen Russian assets in August, Borrell says
The European Union's top diplomat, Josep Borrell, announced on July 22 that Ukraine is expected to receive the first transfer of $1.5 billion in payments from Russian frozen assets at the beginning of August.
Saudi Arabia issued vague threats to G7 against seizing frozen Russian assets, Bloomberg reports
Saudi officials reportedly made "veiled threats" to Group of Seven (G7) nations hinting that the kingdom would sell some European debt holdings if Western allies seized about $300 billion in frozen Russian assets, Bloomberg reported on July 9, citing its sources.
Polish foreign minister proposes seizing $321 billion in frozen Russian assets
"We need to re-learn how to champion the escalation game," Sikorsky said during a lecture at the Ditchley Foundation in the U.K. "(Russian dictator Vladimir) Putin has already written them (the frozen assets) off, he does not expect to get them back. But he also doesn’t think we have the fortitude to take hold of them either. So far, we have proven him right."
Ukraine to receive profits from Russia's frozen assets in 2 tranches starting next week, Borrell says
"We have a process in order to make this work quickly. The first tranche of money will come next week, in July. The second will come some months later," Josep Borrell said during the press briefing in Luxembourg.
EU devises workaround for possible Hungary veto of funds for Ukraine, FT reports
The EU has developed a legal workaround to prevent Hungary vetoing a move to use profits from frozen Russian assets to aid Ukraine, the Financial Times reported on June 24.
EU to start transfer of profits from frozen Russian assets 'before summer break,' EU official says
Ukraine will receive the first payment of 1.5 billion euros ($1.6 billion) from the profits of Russian assets frozen in the EU "before the summer break," EU Trade Commissioner Valdis Dombrovskis said on June 21.
Opinion: Why arguments against using Russian assets for Ukraine don't hold water
If Ukraine is going to defeat Russia and rebuild itself after the war, it will need huge sums of money, probably exceeding what Western electorates and politicians are willing or able to provide. The good news is that there is a massive pot of non-Western money already available: the $300
G7 agrees on transfer of $50 billion in profits from frozen Russian assets to Ukraine
"We have an agreement," a French presidency official said, ahead of a summit in Italy, which starts on June 13.
Media: G7 to create Ukraine aid fund using income from frozen Russian assets
A final agreement on the issue is expected at a G7 summit in Apulia, Italy, on June 13-15, which President Volodymyr Zelensky will attend.
AFP: Still no G7 consensus over using frozen Russian assets for Ukraine
According to AFP, the U.S. is pushing the G7 to endorse a loan for Ukraine of up to $50 billion, secured by interest on the frozen assets.
Meloni: Zelensky will take part in upcoming G7 summit
President Volodymyr Zelensky will participate in the upcoming G7 summit, Italian Prime Minister Giorgia Meloni said on June 2, according to the Italian news outlet ANSA.
Ukraine to receive 1st tranche of frozen Russian assets revenue this summer, EU official says
The legal framework within which the funds will be transferred is still in progress, according to David O'Sullivan. The EU sanctions envoy hopes that the decision will be made in "a few weeks."
FT: Hungary holding up EU's use of frozen Russian assets for Ukrainian defense
Hungary is holding up legislation that would allow the European Union to send billions of dollars in profits from frozen Russian assets for Ukrainian aid, according to a report by the Financial Times.
G7 announces 'progress' on Russian frozen assets but work still to be done
Ukraine's Western partners and other allies froze around $300 billion in Russian assets at the start of the full-scale invasion in 2022. Roughly two-thirds are held in the Belgium-based financial services company Euroclear.
Putin signs decree authorizing confiscation of US companies, individuals in retaliatory measure
The decree would enable Russian citizens, companies, and the central bank to appeal to courts that the seizure of their assets is unjustified. In turn, the Russian government could offer U.S. assets in Russia as compensation.
European Commission says Ukraine will receive first payment of revenue from frozen Russian assets in July
The European Commission said that the "resources will be available to support Ukraine starting from July 2024, with bi-annual payments."
Reuters: G7 will support using frozen Russian assets revenue to fund Ukraine
The G7 finance ministers are set to meet on May 24, where they will work out the details to come to a final decision before a summit in Italy in June.
Estonian parliament passes bill allowing use of frozen Russian assets for war reparations for Ukraine
"We're one step closer to setting a historic precedent in Europe," said Prime Minister Kaja Kallas.
Bloomberg: Russian tycoons move assets home amid Western sanctions
Increasingly cut off from western banking and financial services, Russia's wealthiest individuals are facing a dilemma when it comes to handing their fortunes to the next generation, according to Bloomberg. Most of the billionaires who were sanctioned have opted to move assets home, the news agency reported.
Ukraine Business Roundup — Easter in Ukraine is getting expensive
The following is the May 7, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Ukraine’s Central Bank eased some wartime foreign exchange restrictions on businesses in what it said was the
Bloomberg: US leading efforts within G7 to develop $50 billion aid package to Ukraine
The United States is leading talks among the Group of Seven (G7) nations to develop a military aid package to Ukraine worth up to $50 billion, Bloomberg reported on May 3. The package would reportedly be funded by the profits generated by accrued interest on frozen Russian assets.
Ukraine Business Roundup — No more border blockades, for now
The following is the April 30, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Polish farmers finally ended their protests at the Hrebenne-Rava-Ruska border crossing on April 29, effectively lifting a blockade
US Treasury Secretary: G7 may support aiding Ukraine with interest from Russian assets
"This is an approach that could be broadly supported by countries that are concerned about the seizure of assets, and some of the interest could be brought forward through, for example, a loan," Yellen said.
Explaining Washington’s REPO Act that could kick-start the confiscation of frozen Russian assets
The U.S. on April 20 became the first nation to adopt legislation green-lighting confiscating frozen Russian assets for Ukraine. President Joe Biden signed the REPO Act alongside a $95 billion foreign aid bill that included $61 billion for Kyiv on April 24, setting the legal basis for liquidating immobilized
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