The EU will allocate €4.2bn to Ukraine by the end of the year and impose new sanctions against Russia

The European Union continues to support Ukraine financially and increase sanctions pressure on Russia. By the end of 2024, the EU will transfer €4.2 billion to support the Ukrainian budget, and in 2025 it will allocate €1.5 billion monthly from frozen Russian assets.

This was announced by President of the European Council Antonio Costa.

Details of financial support:

• By the end of 2024 Ukraine will receive €4.2 billion in additional assistance.
• Starting from 2025, the EU will provide EUR 1.5 billion per month to Ukraine. These funds will be used not only to support the budget, but can also be used for military purposes.

“We are using frozen Russian assets to provide financial assistance to Ukraine. This is a systematic support that will last for a whole year, starting from January 2025,’ Kosta said.

New sanctions package

The EU continues to work on increasing sanctions pressure on Russia. According to the President of the European Council, work is currently underway on the 15th package of sanctions, which will be the next step in the fight against the Kremlin’s aggression.

‘We will not stop until we achieve a just peace in Europe,’ Costa stressed.