G7, EU countries have provided $13.6 bln secured by frozen Russian assets to Ukraine

During his visit to the Spring Meeting of the International Monetary Fund (IMF) and the World Bank in Washington, Ukrainian Finance Minister Serhiy Marchenko discussed the implementation of the Extraordinary Revenue Acceleration (ERA) mechanism from the G7 countries to finance Ukraine using frozen Russian assets totaling $50 billion, under which $13.6 billion has already been received by the state budget.

"This is a historic decision that restores justice by enabling Ukraine to meet its needs through the assets of the aggressor. Thanks to the ERA mechanism, we have predictability in financing key budget expenditures for 2025… A portion of these funds, particularly from the UK and the EU, may also be directed to military needs," Marchenko was cited in a press release of the ministry.

In particular, meetings took place with U.S. Secretary of the Treasury Scott Bessent, Canada's Minister of Finance François-Philippe Champagne, Japan's Minister of Finance Katsunobu Kato, Germany's State Secretary Jörg Kukies, France's Minister of the Economy, Finance and Industry Eric Lombard, and UK Chancellor of the Exchequer Rachel Reeves.

The Minister separately thanked Canada, which holds the G7 Presidency in 2025, for its consistent support of the Ukrainian agenda on the international stage.

"In the first quarter of 2025, domestic revenues exceeded the planned target and rose by $1 billion compared to the same period in 2024. Demand for domestic government bonds remains strong, reflecting growing confidence among citizens and businesses. Since the beginning of the year, external financing has already reached $16.8 billion, which enables us to maintain budget liquidity and financial system stability," Marchenko said.

He also noted that Ukraine's total need for international financial assistance in 2025 amounts to $39.3 billion, and partners have already provided the necessary assurances regarding this support.

Marchenko said that in 2025, more than $49 billion – or 26.3% of GDP – is allocated to the security and defense sector.

During the meetings, the parties also discussed possible ways to fully confiscate all frozen Russian assets to finance Ukraine's reconstruction.

G7 partners commended the Ukrainian Government's efforts to adapt the financial system to wartime conditions and reaffirmed their continued comprehensive support.