European Union Transfers IDR 26.5 Trillion Of Russian Assets Frozen To Ukraine

European Commission President Ursula von der Leyen with Ukrainian President Volodymyr Zelensky. (Twitter/@vonderleyen)

JAKARTA - European Commission President Ursula von der Leyen said on Friday the European Union would transfer 1.5 billion euros (IDR 26,515,917,795,000) from Russian assets frozen to Ukraine.

Western countries blocked about USD 300 billion in Russian assets after Moscow sent troops to Ukraine in February 2022.

Last month, Groups Seven (G7) and the European Union agreed to use interest obtained from frozen Russian assets to support a $50 billion loan to Ukraine to help its defenses against the Moscow invasion.

"Today we transferred 1.5 billion euros from the proceeds of Russian assets crippled for Ukraine's defense and reconstruction. There is no better symbol or use for Kremlin money than making Ukraine and the rest of Europe a safer place to live," von der Leyen said on social media platform X.

Separately, Ukrainian Prime Minister Denys Shmyhal thanked the European Union.

"Thank you von der Leyen and the European Union for your steadfast support and significant contribution to Ukraine's defense and reconstruction. Together, we turn difficulties into strength and build a safer and more resilient Europe," he said.

Earlier, EU member states had discussed options to extend the extension period of sanctions against Russia's central bank assets to secure a G7 loan to Ukraine, according to draft European Union documents and statements from diplomats.