BRUSSELS, Jan 10 (KUNA) -- The European Union (EU) announced on Friday that it has disbursed three billion euros, the first payment of its share of the G7 loan to Ukraine.
European Commission President Ursula von der Leyen said on (X) that "Ukraine can continue to count on its friends and partners" nearly three years into the Russian Ukrainian war.
She explained that the EU is providing Ukraine with "the financial power to continue fighting for its freedom and to prevail".
EU High Representative for Foreign Affairs and Security Policy Kaja Kallas stressed in a post on X that "Russia started this war, so Russia must pay the price." She pointed out that the loan will be repaid "from the proceeds of frozen Russian assets." Kallas added that this European financial support will help boost Ukraineآ’s economy and free up Ukrainian funds for defence.
The three billion euro payment represents part of the EUآ’s 18.1 billion euro contribution to the آ€45 billion G7 Extraordinary Revenue Acceleration (ERA) loans for Ukraine. (end) arn.mt