Ukraine has received another $1 billion as a fifth tranche from the EU under the G7-backed Extraordinary Revenue Acceleration (ERA) initiative, the Ukrainian Ministry of Finance reported on June 13.
It is another payment to Ukraine through the ERA, financed by interest income from frozen Russian sovereign assets. The assets were frozen following Russia’s full-scale invasion of Ukraine. Ukraine still aims to obtain the principal €210 billion ($227 billion) in immobilized Russian central bank assets.
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As with the previous tranches, the EU’s contribution within ERA will be directed to state budget support, unlike the UK’s contribution which is used for defense needs.
“In 2025, the European Union has provided €10.5 billion in direct budget support to Ukraine – the largest contribution among all international partners. The financing has been delivered through the ERA and Ukraine Facility instruments. I am grateful to our European partners for their stable and predictable support, which strengthens the financial resilience of our country. The funds received are directed towards key priorities of the State Budget,” Ukrainian Minister of Finance Sergii Marchenko said.
The EU’s total contribution under ERA is €18.1 billion ($20 billion). Under the program, G7 countries agreed to deliver up to $50 billion in support to Ukraine through 2025.
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The ERA initiative is designed to repurpose profits generated from approximately €210 billion ($237 billion) in immobilized Russian central bank assets, most of which are held within the EU.
Revenues from these assets – estimated at €2.5-3 billion ($2.8-3.4 billion) annually depending on market rates – are redirected to support Ukraine without creating an additional debt burden.
Its key aim is to make Russia pay for its full-scale invasion of Ukraine.