In the coming days, Ukraine will receive the first EUR 1.4 billion from the profits generated by frozen assets of Russia in the European Union. It is part of the financial support that the European Union provides Ukraine with in view of the ongoing conflict with Russia. The head of EU diplomacy, Kaja Kallas, reported that the second tranche, amounting to EUR 2.1 billion, would be paid from the end of April.
The financial support of Ukraine is 1 of the priorities of the European Union. Due to the ongoing conflict, the European Union has decided to frost Russia's assets in order to halt Russia's aggression against Ukraine. According to the European Commission, since the introduction of sanctions, the European Union has already blocked assets worth over EUR 18 billion.
Within the framework of financial assistance, the European Union shall guarantee Ukraine not only direct financial support, but besides assistance in rebuilding the country. In fresh months, the European Union has already signed 5 fresh agreements with Ukraine, including the reconstruction of energy infrastructure and the participation of Ukraine in the Copernicus satellite programme. Moreover, the European Union and Ukraine have made large advancement in adapting Ukraine's law to the standards of the European Union.
In the context of the ongoing conflict, the Ukrainian Prime Minister, Denys Szmyhal, met with EU Commissioner for economical Affairs, Valdis Dombrovskis, to discuss the request for further free trade between Ukraine and the European Union. Szmyhal called for an extension of duty-free trade between Ukraine and the European Union until at least the end of the year. The European Union ensures that free trade between Ukraine and the European Union is 1 of the priorities to support Ukraine's economy.
It is worth noting that the European Union and another global countries and organisations specified as NATO, the United States and the United Kingdom supply military and financial support to Ukraine in connection with the ongoing conflict with Russia. Moreover, the European Union and another global countries and organisations are active in a peaceful resolution of the conflict in Ukraine.
According to the European Commission, since the introduction of sanctions, the European Union has already provided over EUR 18 billion in financial assistance and humanitarian support to Ukraine. Moreover, the European Union and another global countries and organisations specified as the United States and the United Kingdom provided over $10 billion in military support to Ukraine.
In view of the ongoing conflict, Kaja Kallas stressed that Russia was liable for continuing the war in Ukraine. Only Russia wants to proceed this war," Kallas said. The European Union and another global countries and organisations are active in a peaceful resolution of the conflict in Ukraine.
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Financial support for Ukraine: A universal solution for the country's economy
