EU Trade Commissioner Valdis Dombrovskis announced that Ukraine will receive a payment of 1.5 billion euros from frozen Russian assets before the summer break. This is part of a larger plan to provide Ukraine with around 3 billion euros annually for reconstruction and defense needs.
While details of the exact payment timeline are not specified, the EU aims to deliver the funds before their summer recess. The EU, along with G7 partners, is utilizing profits generated by immobilized Russian assets to support Ukraine, instead of confiscating them outright.
The costs of Ukraine’s reconstruction are projected to reach $486 billion over a decade. Additionally, the EU Council has confirmed that accession talks with Ukraine and Moldova will begin on June 25, following an agreement among EU ambassadors.
Elsa Court is a journalist working as a news editor for the Kyiv Independent. She's from UK, but based in the Netherlands. She's an experienced journalist, with previous experience as freelancer and editor.