EU pledges 27 trillion won in 'revenue from Russia freeze' to Ukraine

The European Union, the EU have pledged to provide 18.1 billion euros and 27 trillion won to Ukraine using proceeds from Russian assets frozen by sanctions.

The EU's chief deputy commissioner, Valdis Dombrowski, said in an X that it had signed an EU-Ukraine business agreement to do so and that it was part of the G7 plan.

At the G7 summit in Italy in June, the EU and the G7 agreed to provide 45 billion euros, about 66 trillion won in loans to Ukraine as collateral for the proceeds from Russia's frozen assets, and agreed on detailed measures, including the amount shared by countries, last month.

Ukrainian Prime Minister Denis Shmyhal welcomed the EU's support through X, saying it would set a precedent for holding Russia accountable for crimes and paying for a brutal war of aggression, not just aid.