Ukrainian Prime Minister Denys Shmyhal mentioned Thursday his nation has acquired €1 billion from the EU as a part of its Extraordinary Revenue Acceleration (ERA) program, financed by income generated from immobilized Russian central financial institution property.
Shmyhal mentioned on Telegram that the funds can be used to assist important finances wants and assist stabilize Ukraine amid war-related injury.
“This tranche is part of a fair and consistent approach: the aggressor must pay for the destruction he brought to our land,” he mentioned, expressing appreciation for the EU and G7’s creation of a workable monetary mechanism.
He added that Ukraine expects different steps, together with the confiscation of Russian property and stronger sanctions in response to “atrocities.”
The EU beforehand agreed to channel income, not principal, of frozen Russian property to assist Ukraine, marking a historic precedent in wartime reparations via monetary devices.
The EU’s ERA program is a G7-led initiative that offers Ukraine monetary assist via loans that can be paid through the use of frozen Russian property.
Source: www.anews.com.tr