Ukraine received another USD 1.7 billion from frozen russian assets from Canada - Shmyhal

Ukraine received the second tranche from Canada of about USD 1.7 billion (CAD 2.3 billion) as part of the G7 Extraordinary Revenue Acceleration (ERA) initiative from frozen russian assets. Prime Minister Denys Shmyhal announced this on his Telegram channel, Ukrainian News Agency reports.

"Ukraine received about USD 1.7 billion (CAD 2.3 billion) from Canada as part of the ERA initiative. These are funds secured by revenues from frozen russian assets," he said.

Shmyhal noted that since the beginning of the year, including the last tranche, Ukraine has received about USD 17.6 billion from frozen russian assets.

At the same time, he emphasized that Ukraine insists on the full confiscation of the frozen funds of the russian federation, they are needed to pay compensation to victims of aggression and to rebuild the state, this will also be an act of justice to prevent aggressive wars in the future.

As Ukrainian News Agency earlier reported, in March, Ukraine received the first tranche from Canada in the amount of CAD 2.5 billion (about USD 1.7 billion) within the framework of the ERA initiative from frozen russian assets.

In June, Ukraine received another EUR 1 billion from the EU at the expense of russian assets.

The G7 ERA mechanism with a total volume of USD 50 billion provides for the allocation of credit funds to Ukraine, which will be repaid and serviced at the expense of future profits received from frozen russian assets.