“Today we transfer €1.5 billion in proceeds from immobilised Russian assets to the defence and reconstruction of Ukraine. 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”: Ursula von der Leyen

by marketrent

9 comments

  1. Extract from [statement](https://ec.europa.eu/commission/presscorner/detail/en/IP_24_4029) and attached [Q&A](https://ec.europa.eu/commission/presscorner/detail/en/QANDA_24_4030)*

    *Today, the EU makes available in support of Ukraine the first payment of €1.5 billion generated from immobilised Russian assets.*

    *These extraordinary revenues generated by EU operators and held by central securities depositories (CSDs) from immobilised Russian sovereign assets were made available by Euroclear to the Commission as a first instalment on 23 July.*

    *The money will now be channelled through the European Peace Facility and to the Ukraine Facility to support Ukraine’s military capabilities as well as to support the country’s reconstruction.*

    *The immobilisation of the Russian Central Bank’s assets is a result of EU sanctions against Russia, adopted in the wake of its war of aggression against Ukraine.*

    *The extraordinary revenues generated in this context by the EU operators do not belong to Russia and are held by CSDs. The EU has now started to channel these revenues to Ukraine.*
    ___
    **[Why do you not send these extraordinary revenues straight to Ukraine?](https://ec.europa.eu/commission/presscorner/detail/en/QANDA_24_4030)*

    *The extraordinary revenues are fully used for the benefit of Ukraine through two Union Instruments, the EPF and the Ukraine Facility. The channelling ensures that the revenues are spent on the strengthening of military capabilities and reconstruction in line with sound financial management rules.*

  2. It’s time something good was done with Russia’s money. Keep it coming and send it all.

  3. Hell yeah this is fantastic news. Something I actually thought wouldn’t happen.

    Send it all!

  5. This and the Pentagon’s sudden 2 Billion $$$ “accounting error” means tons more money and arms are heading Ukraine’s way

  6. €1.5 billion is a useful start, but Ukraine should get 1000x that much from Russia, an actually unpayable sum for them.

  8. aaand ruzzia threatening with nuclear Armageddon in 3, 2, 1….
    Fuck ruzzia

  9. Send every penny until the damage they caused is rebuilt and paid for by ruzzia

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