The European Union (EU) is providing 1.4 billion euros (approx. 2.3 trillion won) in profits generated from frozen Russian central bank assets within the bloc to Ukraine.

On the 5th (local time), European Commission President Ursula von der Leyen condemned Russia's massive overnight airstrikes targeting Ukraine as a "horrific atrocity" on the social media platform X (formerly Twitter), and announced that profits derived from frozen Russian assets would be allocated to Ukraine.

Russia has recently stepped up its airstrikes against Ukraine using ballistic missiles and drones.

The previous day, civilian facilities were heavily attacked, leaving at least 17 people dead in the Kyiv region.

President von der Leyen emphasized, "Russia must pay for the destruction it has caused," adding, "We are allocating 1.4 billion euros from the revenues of frozen Russian assets to Ukraine, supporting its continued resistance against Russia's illegal war."

After Russia launched its full-scale invasion of Ukraine in February 2022, the EU froze Russian central bank assets located within its jurisdiction, including those held at the Belgian central securities depository Euroclear.

While leaving the principal assets untouched, the EU is utilizing the profits generated from the principal to support Ukraine.

To date, total windfall profits generated from the frozen Russian assets have reached 8 billion euros (approx. 13.15 trillion won).

Meanwhile, the vast majority of the 1.4 billion euros being provided to Ukraine this time—1.33 billion euros (approx. 2.2 trillion won)—will be used to support the repayment of principal and interest on loans provided to Ukraine by the EU and the Group of Seven (G7).

According to Euronews, the amount actually injected into direct military support for Ukraine stands at 70 million euros (approx. 115 billion won).

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