The first funds from the United Kingdom from the income of frozen assets of the Russian Federation – Shmigal were received to Ukraine

The first funds from the United Kingdom were received to Ukraine, provided with income from frozen Russian assets, reported On March 7, Prime Minister of Ukraine Denis Shmigal.

According to him, Ukraine kept 752 million pounds (About 895 million euros – ed.) Within the G7 ERA initiative. The funds will be directed to strengthen Ukrainian defense capability.

“I thank the UK government and our G7 partners for the mechanism that forces Russian money to work for Ukraine. We expect that all sovereign assets of the Russian Federation will be confiscated and transferred in favor of our country, ”the head of the government wrote.

Previously in £ 2.26 billion (about three billion dollars), the Ministry of Finance reported on March 1. These funds are part of the Extraordinary Revenue Acceleration for Ukraine (ERA) of the G7 countries with a total amount of $ 50 billion.

The Extraordinary Revenue Acceleration (ERA) of G7 provides Ukraine with approximately $ 50 billion in the form of loans secured by profit from frozen Russian sovereign assets. These funds are aimed at supporting the budget, military needs and restoration of Ukraine’s infrastructure.