The European Union Will Transfer IDR 2.7 Trillion From Interests To Freeze Russian Assets For Ukraine

UNSPLASH/Antoine Schibler/EU Flag ILLUSTRATION

JAKARTA - A total of 160 million euros (approximately IDR 2.7 trillion) from the interest proceeds of frozen Russian assets will be allocated to meet Ukraine's urgent humanitarian needs this winter.

European Commission President Ursula von der Leyen explained that the injection of cash funds, the European Union will also help with additional repairs and exports.

Meanwhile, the International Energy Agency, reported by Reuters on Thursday, September 19, said Ukraine may face a shortage of 6 GWs this winter as the peak electricity demand increases.

Oil-fueled power plants are being dismantled in Lithuania and will be rebuilt in Ukraine, where 80 percent of the country's hot power plants have been destroyed. A third of the hydroelectric power plants in Ukraine are also out.

"We aim to restore a capacity of 2.5 GW, which is 15 percent of Ukraine's needs," Von der Leyen said, referring to improvements.

In addition, the EU will increase exports to supply 2 GWs of electricity to Ukraine.