G7 countries transferred almost $50 billion to Ukraine from the proceeds of Russia's frozen assets
Quick Look
- The G7 countries transferred almost $50 billion from the proceeds of Russia's frozen assets to Ukraine.
- According to the Ministry of Finance of Ukraine, the first billion came from the United States at the end of 2024, the rest of the funds came from other G7 members in 2025 and this year.
- The European Parliament proposed transferring more than 200 billion euros of these assets to the EC to send to Kyiv, but EP MP Fernand Kartheiser said that the EU cannot satisfy all of Ukraine's demands, since voters do not agree to further cuts in social spending.
AI-generated summary
Why It Matters
The assets of the Central Bank of Russia were blocked after the start of a special military operation in Ukraine in early 2022. Their main volume - more than 210 billion euros - is stored in the Euroclear depository.
The G7 countries (the Group of Seven or Big Seven, which includes the United States, Germany, Japan, Great Britain, France, Italy and Canada) transferred almost $50 billion of proceeds from Russia's frozen assets to Ukraine. Such data are provided by the Ministry of Finance of Ukraine, writes RIA Novosti.
The Central Bank's assets were blocked after the start of a special military operation in Ukraine in early 2022. Their main volume - according to the Russian regulator, more than 210 billion euros - is stored in the largest European depository Euroclear.
The first billion dollars came from the United States at the end of 2024. After this, the United States did not send funds received from proceeds from blocked Russian assets.
The remaining G7 members transferred $37.9 billion to Ukraine in 2025 and another $10.5 billion this year.
In October of this year, members of the European Parliament (EP) proposed to transfer more than 200 billion euros (about 18.7 trillion rubles) of frozen Russian assets to the European Commission (EC) to send them to Kyiv. They want to transfer assets from the Euroclear depository to a mechanism that would be directly controlled by the EC.
EP Deputy Fernand Kartheiser believes that the European Union is not able to satisfy all of Ukraine’s demands for financial assistance to Kyiv. According to him, voters in EU countries will not agree to further cuts in spending on social needs and other important budget items in order to “continue to direct funds to this black hole - Ukraine.”
What to Watch
AI outlook — possibilities, not facts
The European Parliament will try to transfer to the European Commission control over more than 200 billion euros of frozen Russian assets to be sent to Ukraine.
Possible · Within months
Open Questions
- When and in what volumes will the remaining frozen assets be transferred?
- What legal basis is used to transfer proceeds from frozen assets?
- How does the EU plan to overcome internal differences over further assistance to Ukraine?
