Ukraine has secured €1.7 billion this year from the interest generated on frozen Russian assets, as announced by President Volodymyr Zelensky.
The funds, provided by Belgium, are earmarked for the reconstruction of the Chernihiv region, as well as the establishment of a Belgian development agency office in Ukraine.
During a press conference with Belgian Prime Minister Alexander De Croo in Brussels, President Zelensky highlighted the significance of this financial support, emphasizing that the bilateral agreement signed today also includes military assistance worth at least €977 million for this year.
This military aid is intended to protect civilian lives and enhance defense capabilities, contributing to the overall security of both nations.
Prime Minister De Croo confirmed that the funds would be made available to Kyiv by 2024.
In a broader context, the Group of Seven (G7) countries had decided to freeze approximately $300 billion worth of Russian assets in response to President Vladimir Putin’s aggressive actions.
Ukraine is seeking to access between €250 billion and €300 billion from these frozen assets across the European Union and G7 nations, with a substantial portion of these funds held in Belgium by Euroclear, a prominent international securities transaction firm.
