Federal Character
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
Federal Character
No Result
View All Result
Home News

EU Transfers 1.5 billion Euros Raised from Russian Assets to Support Ukraine

Elizabeth OkandejibyElizabeth Okandeji
July 26, 2024
in News
0
EU Transfers 1.5 billion Euros Raised from Russian Assets to Support Ukraine
Share on FacebookShare on TwitterShare on Whatsapp

The European Union announced on Friday that $1.6 billion, or 1.5 billion euros, had been allocated to help Ukraine.

This represents the first significant profit from Russian frozen assets.

In May, EU members decided to support Ukraine and finance its post-conflict reconstruction with billions of euros seized from the Russian central bank.

The EU froze approximately 200 billion euros of Russian central bank assets held within the bloc. The move was part of the penalties imposed on Moscow for invading Ukraine in 2022.

Euroclear, an international deposit organisation established in Belgium, holds approximately 90% of the cash frozen in the EU.

“The EU supports Ukraine. “Today, we transfer 1.5 billion euros in proceeds from immobilised Russian assets to Ukraine’s defence and reconstruction,”

EU leader Ursula von der Leyen said in a statement. “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,” she made clear.

The money imwas gotten from the income produced by the frozen Russian funds, not the cash themselves, which remain locked away in Moscow.

According to Brussels, 90% of the money would go to the European Peace Facility, a central fund used to pay for weaponry for Ukraine.

The remaining 10% would be directed to the EU’s separate Ukraine Facility, which would help with the country’s restoration. Ukrainian Prime Minister Denys Shymgal praised the EU for their assistance.

Table of Contents

Toggle
  • What they’re saying
  • Final Thoughts

What they’re saying

“Thank you von der Leyen and the EU for your steadfast support and this significant contribution to Ukraine’s defence and reconstruction,” he commented on social media.

“We are grateful to the EU for taking this important move. “This transfer will help us strengthen our defence capabilities,” the Ukrainian defence ministry stated.

Final Thoughts

This allocation serves both symbolic and strategic purposes. By using funds linked to Russia to support Ukraine, the EU sends a clear message of solidarity with Ukraine and condemnation of Russia’s actions.

It reinforces the EU’s commitment to supporting Ukraine in its defense efforts and post-conflict reconstruction.

Tags: assetsEUEU Transfers 1.5 billion Euros Raised from Russian Assets to Support UkraineEurosfederal characterNewsRussiantransfers.ukraine
Elizabeth Okandeji

Elizabeth Okandeji

A wordsmith with a passion for all things tech. I write captivating articles and unravel complex concept in the world of technology.

Related Posts

“We Want to Breathe”: Hundreds March in Tunis Over Worsening Pollution Crisis
News

“We Want to Breathe”: Hundreds March in Tunis Over Worsening Pollution Crisis

October 25, 2025
Louvre Evacuates Jewels to Bank After Security Failure
News

Louvre Evacuates Jewels to Bank After Security Failure

October 25, 2025
A New Kind of Threat? Murder-Suicide at Ukrainian Station Raises Alarms
News

A New Kind of Threat? Murder-Suicide at Ukrainian Station Raises Alarms

October 24, 2025
Next Post
60,000 Youths Back Out of August 1st Protest

60,000 Youths Back Out of August 1st Protest

Laura Ikeji Shares Her Reluctance Towards Plastic Surgery

Laura Ikeji Shares Her Reluctance Towards Plastic Surgery

Take It Back Movement Seeks Eagle Square for August Protest

Take It Back Movement Seeks Eagle Square for August Protest

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Danny Schofield Sacked After Two Months in Huddersfield

Danny Schofield Sacked After Two Months in Huddersfield

3 years ago
Enugu-Cameroon highway gets completion date

Enugu-Cameroon highway gets completion date

4 years ago
“Buhari, Release Nnamdi Kanu!” – South East Leaders.

“Buhari, Release Nnamdi Kanu!” – South East Leaders.

3 years ago
Reporting from Onitsha

Reporting from Onitsha

3 years ago

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

Topics

2023 Aboki/Bureau De Change (BDC) apc Arsenal buhari Business cbn chelsea china court Davido Dollar Efcc Election Entertainment Euro and Pounds To Naira Exchange Rate For Today exchange rates for the Nigerian Naira (NGN) Fashion federal character federal government Finance food Football Foreign News government health inec Israel lagos Manchester United Naira Naira Black Market exchange rates News Nigeria pdp police Politics president protest Russia Sports tinubu trump ukraine US
No Result
View All Result

Highlights

Dangote Refinery Set to Dethrone India’s Jamnagar, Becomes World’s Largest

Details of What Led to Pretty Mike’s Arrest During NDLEA Raid in Lagos Nightclub

Venezuela’s Maduro says the US is ‘fabricating’ a war against him

Matty Cash Fires Aston Villa Past Manchester City as They Suffer First League Defeat Since August

Eze​‍​‌‍​‍‌ Haunts Former Club as Arsenal Edge Past Crystal Palace to Extend Premier League Lead

The Tariffs Gets Dumber Everyday

Trending

Arrests Rock Cameroon as Paul Biya Eyes Eighth Term at 92
Government

Arrests Rock Cameroon as Paul Biya Eyes Eighth Term at 92

byEriki Joan Ugunushe
October 26, 2025
0

It feels almost unreal that in 2025, Cameroon is still wrapped around the same old story, Paul...

Why the Louvre Jewelry Theft Was an Attack on French Fashion History

Why the Louvre Jewelry Theft Was an Attack on French Fashion History

October 26, 2025
Bellingham​‍​‌‍​‍‌ and Mbappé Fire Real Madrid to El Clásico Glory Over Barcelona

Bellingham​‍​‌‍​‍‌ and Mbappé Fire Real Madrid to El Clásico Glory Over Barcelona

October 26, 2025
Dangote Refinery Set to Dethrone India’s Jamnagar, Becomes World’s Largest

Dangote Refinery Set to Dethrone India’s Jamnagar, Becomes World’s Largest

October 26, 2025
Details of What Led to Pretty Mike’s Arrest During NDLEA Raid in Lagos Nightclub

Details of What Led to Pretty Mike’s Arrest During NDLEA Raid in Lagos Nightclub

October 26, 2025

We launched Federal Character in February 2021 based on the belief that the world is in need of smarter and more efficient reporting of events shaping our rapidly changing world. We pledged to put our audience first, always.

Recent News

  • Arrests Rock Cameroon as Paul Biya Eyes Eighth Term at 92
  • Why the Louvre Jewelry Theft Was an Attack on French Fashion History
  • Bellingham​‍​‌‍​‍‌ and Mbappé Fire Real Madrid to El Clásico Glory Over Barcelona

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

© 2024 FederalCharacter.com

No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion

© 2024 Federalcharacter.com