Ukraine to receive €18 billion from EU via G7 mechanism

On Thursday, November 28, a memorandum was signed for the EU to provide Ukraine with €18.1 billion ($19.1 billion) in additional macro-financial assistance, financed through profits from frozen Russian assets. This funding is part of the G7's $50 billion support package, Prime Minister Denys Shmyhal announced.

"The EU has taken a step to grant Ukraine exceptional macro-financial assistance. A Memorandum of Understanding has been signed, enabling the allocation of €18.1 billion as part of the G7's $50 billion package, secured through profits from frozen Russian assets," Shmyhal stated on social media.

The document was signed on behalf of the European Commission by Vice President Valdis Dombrovskis.

"Honoured to sign MoU with Ukraine on behalf of EU for €18.1 b in macro-financial assistance to help Ukraine cover immediate needs. It is part of G7 initiative to support Ukraine using revenues from immobilised Russian assets–making sure that aggressor pays for damage it has caused," Dombrovskis wrote on X.

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