Canada provided Ukraine with $1.7 billion in proceeds from frozen Russian assets
news.online.ua
Thu, 13 Mar 2025 17:03:00 +0200
Canada provided Ukraine with 1.7 billioThis was announced by Prime Minister of Ukraine Denys Shmyhal.
Ukraine received 2.5 billion Canadian dollars about 1.7 billion US dollars under the G7 ERA initiative.
Denys Shmyhal Prime Minister of Ukraine According to the Prime Minister, the funds, secured by income from frozen Russian assets, will be directed to the priority needs of the state budget.
This is the first tranche from Canada, which has allocated a total of 5 billion Canadian dollars for the Extraordinary Revenue Acceleration ERA, which involves providing Ukraine with financial resources from profits from frozen Russian assets.
He also thanked Canada and all G7 partners for creating a mechanism that holds Russia financially responsible for aggression.Recall that ERA Extraordinary Revenue Acceleration is an initiative that involves receiving 50 billion from the G7 countries with subsequent repayment through revenues from the use of frozen Russian assets.For example, in early March, Ukraine received the first tranche of 752 million pounds 970 million from the United Kingdom under the ERA.
The funds, as noted above, were provided by proceeds from frozen Russian assets.
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