Ukraine received approximately $1.7 billion from Canada as part of the Ukraine Facility initiative and the Extraordinary Revenue Acceleration (ERA) mechanism. These funds were obtained from the profits generated by the frozen assets of the Central Bank of the Russian Federation.
This was announced by Prime Minister Denys Shmyhal.
‘Together with our partners, we are forcing Russia to pay for its crimes and destruction. Since the beginning of the year, including the latest tranche, we have received about $17.6 billion from frozen Russian assets,’ Shmyhal wrote.
He thanked Canada for its support and stressed the need for the complete confiscation of Russian assets to compensate the victims and restore Ukraine’s infrastructure.
After the start of the full-scale war, Western countries froze about $300 billion belonging to the Central Bank of Russia. Most of the assets are held in the Euroclear system. Part of the proceeds from them has already begun to be directed to aid Ukraine — in particular, for weapons, equipment and reconstruction.