EU to use €1.4 billion from interest on frozen Russian assets to help Ukraine

The European Union will use €1.4 billion taken ​from interest generated by ‌frozen Russian assets to help Ukraine, the European Commission President ⁠Ursula von der Leyen has said.

The ​money, transferred to the ​bloc on August 3, came ⁠from interest on cash balances, ​part of Russian central bank ​assets frozen by the EU in the wake of Moscow's invasion, the ​Commission added.

"Russia must pay ​for the destruction it has caused. And ‌we ⁠are using the proceeds from the immobilised Russian assets to make sure it does," ​European Commission ​President ⁠Ursula von der Leyen said in the statement. "We ​are making a further €1.4 ​billion ⁠of them available to Ukraine. This will support Ukraine's continued ⁠resistance ​against Russia's illegal ​war," she added.