Kalniete: Ukraine begins to receive funding to be reimbursed from Russian assets

On 10 January 2025, Ukraine receives the first €3 billion euros of the funds, which will later be reimbursed from the frozen assets of the Central Bank of Russia. The initiative for such a macro-financial assistance loan was approved last year in the G7 format and aims to provide Ukraine with up to €45 billion euros.

The European Union's total contribution to this initiative will be €18.1 billion euros by the end of this year, a proposal that was drafted by the European Commission and put to a vote in Parliament by the International Trade Committee (INTA), on which MEP Sandra Kalniete is the EPP group shadow rapporteur on Ukraine.

MEP Sandra Kalniete: "This is the third winter of war between the Ukrainians and their brutal aggressor, and this is the worst yet, as Russia has destroyed Ukraine's energy infrastructure, leaving people without light and heat. This financial support to Ukraine is crucial to meet the country's urgent budgetary needs, including repayment of the EU's emergency macro-financial loan as well as the G7 bilateral loans."

Last October, when calling on the European Parliament to support the loan to Ukraine, Sandra Kalniete stressed in the debate: "By voting in favour of this European Commission proposal, we are supporting Ukraine's recovery and the reconstruction of its damaged infrastructure. The use of Russia's frozen assets to rebuild Ukraine sends the right message to Putin: Russia must be held accountable and made to pay directly for its aggression and crimes against Ukraine. Today's vote on the financial allocation for Ukraine is crucial, but Europe must do more: Member States' leaders must confiscate Russia's frozen assets and use them to arm and rebuild Ukraine. Putin must face the consequences of his actions."