On December 4, US Secretary of State Antony Blinken announced that the US and the European Union (EU) will transfer $50 billion from frozen Russian assets to Ukraine in the coming weeks.
US Secretary of State Antony Blinken at a press conference at NATO headquarters in Brussels, Belgium on December 4 – Photo: REUTERS
According to The Kyiv Independent , Secretary of State Blinken confirmed that the move was part of a coordinated effort between the US and the EU to support Ukraine .
“To ensure that Ukraine has the money and resources it needs to sustain its economy and its defense, we have now managed to tap into frozen Russian assets to transfer $50 billion to Ukraine. The money will be transferred in the coming weeks, from both the United States and Europe,” Mr. Blinken said.
The US Secretary of State said allies are continuing to work to provide Ukraine with the financial and other resources it needs to support its economy and defense capabilities, including ammunition, air defense systems, missiles and armored vehicles.
Secretary of State Blinken added that the US has provided Ukraine with $102 billion in aid since 2022, while other allies and partners have contributed $158 billion.
According to Mr. Blinken, the plan to support Ukraine has been agreed upon at the highest level by the US and the EU. The procedure for transferring the proceeds from frozen Russian assets to Ukraine is being completed.
The Biden administration has pledged to provide full support to Ukraine for the remainder of its term.
“We are taking very aggressive action to ensure that Ukraine has what it needs for many months to come. The United States is doing everything we can,” Mr. Blinken said.
Meanwhile, senior EU leaders have also sent a strong message that the bloc will always support Ukraine until the end of the Russia-Ukraine conflict.
Since Russia launched its “special military operation” in Ukraine in February 2022, the EU has frozen about $235 billion in Russian Central Bank funds, accounting for the majority of frozen Russian assets globally. About 90% of these assets are held by Belgium-based Euroclear.
