Ukraine has received €5.9 billion from the EU under ERA Loans and the Ukraine Facility, President Volodymyr Zelenskyy has announced. A key feature is that part of these funds is financed from profits on frozen Russian assets.
These funds are granted to Ukraine specifically for implementing and achieving a series of important reforms. Key priorities remain the fight against corruption and money laundering. On 10 November, EU-backed anti-corruption institutions exposed a scheme that facilitated the embezzlement of €100 million in kickbacks from an energy company that operates nuclear power plants.
“Today, there is an important decision in support of our country from our partners. Importantly, the ERA Loans mechanism is financed from profits from frozen Russian assets, which makes Russia pay for its aggression,” Zelenskyy said.
Ukraine aims to access €140 billion of frozen Russian assets in Europe and use them to support the war effort
According to Zelenskyy, only pressure can work to achieve peace, so efforts must be intensified to use Russian assets.
The majority of these funds are held in the Euroclear financial depository in Belgium. A decision on whether to transfer the funds to Ukraine is expected in December 2025, Politico reports.
Previously, Zelenskyy stated that it would be a significant loss for Russia if Ukraine were to succeed in accessing €140–160 billion of frozen Russian assets.
“We are counting on a swift political decision regarding the reparations loan and full use of these funds for Ukraine’s defense. I thank President Ursula von der Leyen for her leadership and support of Ukraine,” he summarized.
ERA Loans and Ukraine Facility — financial instruments for security and reforms
Meanwhile, Ukrainian Prime Minister Yuliya Svyrydenko has explained that €4.1 billion under ERA Loans is the final tranche of an €18 billion program, financed from profits on frozen Russian assets.
“This is an example of how Russia begins to pay for its crimes. At the same time, it is a signal of European solidarity and determination to support our ability to endure,” the official noted.
An additional €1.8 billion was received under the Ukraine Facility, reflecting confidence in Ukraine’s implementation of reforms and its European integration.
Read also
-
Drones that crossed into Europe were Putin’s message: “Stop helping Ukraine”, and it worked
-
Ukraine’s top anti-corruption agency raids shadow managers who controlled country’s only nuclear operator through kickback scheme
-
FBI, EU-backed Ukrainian anti-corruption agency coordinate in major nuclear operator scandal, which involves Zelenskyy’s closest associate
-
Ukraine strikes power plant in occupied Donetsk, cutting electricity to key Russian-held cities
