By Alperen Aktas
ISTANBUL (AA) - Ukraine has received a €1 billion ($1.15 billion) tranche of macro-financial assistance from the European Union’s ERA Loan, which is funded through profits generated by frozen Russian central bank assets, Ukrainian Prime Minister Denys Shmyhal said Friday.
“This is more than financial aid -- it’s a clear signal: Europe is strengthening our defense and economic resilience in the face of intensified missile attacks and attempts to destabilize our country,” Shmyhal said on X.
He expressed gratitude to European Commission President Ursula von der Leyen and European Commission Executive Vice President Valdis Dombrovskis for their “leadership and determination.”
“These funds help save lives, rebuild cities, and shape Ukraine’s European future. The aggressor must pay -- justice will prevail,” Shmyhal added.
The EU had previously agreed to use interest generated from immobilized Russian assets to fund support for Ukraine -- a move strongly condemned by Moscow as illegal.