The European Union has sent Ukraine €1.5 billion in aid, funded by proceeds from Russian assets frozen in the EU, to be spent on defense and reconstruction, European Commission President Ursula von der Leyen said, RFE/RL reported.
"Today, we are transferring €1.5 billion in revenues from immobilised Russian assets to the defence and reconstruction of Ukraine. There is no better symbol for the Kremlin than making Ukraine a safe place to live," Von der Leyen said in a statement.
Prime Minister Denis Schmihal welcomed the first EU transfer.
"This is a significant contribution to the defence and reconstruction of Ukraine," he said.
Kremlin spokesman Dmitry Peskov said Russia would "carefully consider how to respond".
EU foreign ministers approved the payments in late June.
The aid is funded by property revenues, such as interest, but not the assets themselves, which remain frozen.
Some €260 billion worth of Russian assets, such as Central Bank reserves, were frozen as part of sanctions imposed on Russia over the war in Ukraine.
Most of Russia's reserves, mainly stocks and other types of securities, are held in a Brussels-based depository called Euroclear.
Group of Seven (G-7) leaders agreed at a June summit in Italy to tap interest on Russian assets frozen in the West to provide $50 billion in funding for the country's debt. | BGNES
