Ukraine received the first 752 million pounds sterling (approximately 970 million dollars) within the framework of the G7 initiative to use the proceeds from frozen Russian assets. Great Britain transferred these funds, becoming the first country to implement this mechanism.
About the receipt of funding on March 7 reported Prime Minister of Ukraine Denys Shmyhal. According to him, the funds will be used to strengthen the country’s defense capabilities, which is a priority area in the current conditions of the war.
The head of the government thanked Great Britain and the G7 allies for creating a mechanism that makes it possible to force Russian financial resources to work for Ukraine. He also expressed hope that this step will be only the beginning and that all sovereign assets of the Russian Federation under sanctions will be confiscated and transferred to Ukraine in the future.
The G7 initiative on the use of profits from frozen Russian assets became an important step in strengthening financial support for Ukraine. The UK is the first country to provide funding under the programme, and other participating countries are expected to follow suit.
