EU channels 1.4 billion euros in frozen Russian asset profits to Ukraine

The Commission announced on August 5 the fifth transfer of windfall profits from some 210 billion euros in immobilised Russian central bank assets: 70 million euros for military assistance via the European Peace Facility and 1.33 billion euros to service G7 and EU loans through the Ukraine Loan Cooperation Mechanism. The transfer, coming days after the deadly strikes on Kyiv, brings total windfall proceeds mobilised since 2022 to about 8 billion euros and keeps the use of Russian assets central to EU sanctions policy.

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