Fifty billion dollars in revenue from frozen Russian assets is an important resource to cover critically needed budget expenditures for 2025, says Prime Minister Denys Shmyhal.

"We are grateful to the European Union for starting to use the revenue from frozen Russian assets for the benefit of Ukraine's defense. We expect that the G7 countries will promptly develop technical procedures for transferring $50 billion from Russian assets to Ukraine. This is an important resource to cover critically needed budget expenditures for 2025," Shmyhal said at a government meeting on Tuesday.

In addition, the prime minister said that Ukraine continues to insist on the complete confiscation of Russian funds in the West.

"We are also implementing the 'Russia will pay' principle through the International Compensation Mechanism, in particular, through the Register of Damage for Ukraine," the Prime Minister said.