Ukraine has received the first funds from the UK, secured by the proceeds of frozen Russian assets, Prime Minister Denys Shmyhal reports.
‘Today we have received £752 million as part of the G7 ERA initiative [Revenue Acceleration Loans for Ukraine]. The funds will be used to strengthen Ukraine's defence capabilities,’ Shmyhal said.
He thanked the UK government and our G7 partners for the mechanism that makes Russian funds work for Ukraine.
‘We expect that all sovereign assets of the Russian Federation will be confiscated in the future and transferred to our country,’ the Prime Minister said.
- Recently, MEPs called on the King of Belgium to confiscate €250bn of frozen Russian assets. The MPs signed an open letter.
- In February, Reuters reported that Russia would not mind if its frozen assets were used to rebuild Ukraine, including the occupied territories.