Ukraine has already received 6.6 billion euros in proceeds from frozen Russian assets
8 May 17:26
Euroclear has transferred €6.6 billion in proceeds from frozen Russian assets to Ukraine. This is stated in the company’s report, according to "Komersant Ukrainian".
“From February 15, 2024, to the present, Euroclear has transferred €6.6 billion in proceeds from assets to the European Fund for Ukraine,” the report states.
It is also noted that in July, Euroclear intends to transfer the next payment of 1.4 billion euros to Kyiv.
This is already the fourth transfer of this type. The previous tranche was received in August 2025. The current payment covers income accumulated in the second half of 2025.
“1.4 billion euros will be directed toward supporting Ukraine’s state functions and financing the needs of the Armed Forces,” said European Commission President Ursula von der Leyen.
According to her, the aid is intended to ensure the country’s stability and support its defense. The European Commission President emphasized that Russia’s assets themselves remain frozen under sanctions imposed in response to the full-scale aggression against Ukraine. At the same time, the income generated from these assets does not belong to the Russian Federation and may be used to support Ukraine pursuant to an EU decision.
A previous report noted that the European depository Euroclear received €5 billion in interest income from investing frozen Russian assets in 2025, which is 26% less than the previous year. €1.4 billion of this amount will be transferred to the fund for Ukraine.
The company attributes this trend to lower interest rates. For comparison, in 2024, income from these assets amounted to €6.9 billion; in 2023, €4.4 billion; and in 2022, €821 million.
“€3.3 billion in revenue from frozen Russian assets will be directed to the European Fund for Ukraine. The first payment of €1.6 billion was already transferred in July 2025, and the second—approximately €1.4 billion—is expected in early 2026. In addition, tax payments on income derived from Russian assets amounted to 1.1 billion euros in 2025, the statement said.
Watch us on YouTube: important topics – without censorship
What are these payments?
As a reminder, following the start of Russia’s full-scale invasion of Ukraine in February 2022, Western countries froze approximately €300 billion in Russian sovereign reserves, of which about €210 billion are held in the EU. The European Union is using the proceeds from the investment of these funds to support Ukraine and is discussing mechanisms for long-term financing using these funds. Most of the funds are held at the Belgian depository Euroclear.
As of the end of December 2025, Euroclear’s balance sheet stood at €222 billion, of which €195 billion consists of frozen Russian assets. At the same time, Euroclear continues to reinvest funds to minimize risks and capital requirements, adhering to European capital rules (CET1) and sanctions requirements, and is building a financial buffer for potential future risks.
Euroclear notes that sanctions and retaliatory measures by Russia have resulted in a loss of business revenue of €34 million and direct costs of €113 million. Due to “significant risks and uncertainty,” the company has also set aside a provision of €342 million.
The report also mentioned the start of legal proceedings at the Moscow Arbitration Court following a lawsuit filed by the Bank of Russia. The hearings are being held behind closed doors, and Euroclear emphasizes that it will defend its position while upholding its commitments to market stability and the protection of client interests.
On December 12, EU governments agreed to indefinitely freeze the Russian central bank’s assets held in Europe, removing one of the main obstacles to using the funds to support Ukraine. In response, the Central Bank of Russia stated that the EU’s plans are illegal, reserved the right to use all available means to protect its interests, and filed a lawsuit against the Belgian depository Euroclear demanding compensation of $229.36 billion.
In December 2025, the EU agreed to extend the freeze on approximately €210 billion in Russian sovereign assets. The European Union plans to keep them frozen until the war ends and Russia pays reparations to Ukraine.
Read us on Telegram: important topics – without censorship
