Ukraine receives eighth EU tranche backed by Russia’s frozen assets

On Wednesday, September 10, Ukraine received the eighth tranche of the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative from the European Union, amounting to €1 billion, the Ministry of Finance reported.

"This is more than aid – it is a clear signal: Europe is decisively strengthening Ukraine’s defense and resilience in the face of massive missile attacks and destabilization attempts," said Prime Minister Yulia Svyrydenko.

The funds will help finance priority budget expenditures, including social payments, the restoration of critical infrastructure, and economic support.

The ERA mechanism provides Ukraine with $50 billion, secured by proceeds from Russia’s frozen assets. The EU’s contribution totals €18.1 billion, of which €10 billion has already been transferred to the state budget.

The European Union remains Ukraine’s main donor. According to European Commission President Ursula von der Leyen, "no one has contributed as much as Europe." In total, EU military and financial assistance to Ukraine amounts to nearly €170 billion.

• In 2024, the G7 countries agreed to use the interest from frozen Russian assets as a loan to Ukraine. This loan will be secured by income from those frozen assets and will be interest-free for Ukraine. NBU Governor Andriy Pyshny expects that by 2026, Ukraine will have access to the principal of the frozen funds.