Russia Ukraine war, page-230650

BRUSSELS, July 26.The EU has expropriated and transferred a €1.5 bln tranche for Ukraine to the European Commission (EC) using proceeds from the reinvestment of frozen Russian assets, the European Commission said. The next tranche is expected in March 2025.

"Today we transfer €1.5 billion in proceeds from immobilized Russian assets to the defense and reconstruction of Ukraine," EC President Ursula von der Leyen wrote on her page on X social media.

Concurrently, the EC published a document explaining how the funds transfer would work. According to the document, the funds will not go directly to Kiev. Instead they will be channeled to the EC, to the European Peace Facility, to compensate EU countries for weapons.