Ukraine Receives €3 Billion from EU Aid Package

Ukraine has received its first tranche of €3 billion ($3.1 billion) from the European Commission, part of a larger $50 billion loan initiative backed by the G7 and funded through income generated from frozen Russian state assets. This loan aims to bolster Ukraine's financial stability as it continues to defend against Russia's aggression, with the EU contributing around €18.1 billion as part of its Macro-Financial Assistance package. Commission President Ursula von der Leyen emphasized that this support is crucial for Ukraine to maintain its fight for freedom. The funds will enable Ukraine to address urgent budgetary needs, rebuild critical infrastructure, and support military expenses. Western nations have frozen approximately $300 billion in Russian assets, from which only the annual income can be accessed for this initiative. The G7 plans to immobilize these Russian assets even after the conflict concludes, ensuring ongoing support for Ukraine's recovery efforts.