Zelenskyy on EUR5.9 billion from the EU: ERA Loans mechanism is already forcing Russia to pay for its aggression
President of Ukraine Volodymyr Zelenskyy has commented on the receipt of EUR5.9 billion from the European Commission (EC) at the expense of the Ukrainian fund and the ERA (Extraordinary Revenue Acceleration) mechanism - an initiative of the G7 countries and the EU, noting that these financial instruments are already forcing Russia to "pay for its aggression".
"Today there is an important decision to support our country from partners. Ukraine received EUR5.9 billion from the European Union within the framework of ERA Loans and the Ukraine Facility. Thank you! It is important that the ERA Loans mechanism is financed from the profits from frozen Russian assets, and this is already forcing Russia to pay for its aggression. Only pressure can work for peace, and therefore we must intensify work on the use of Russian assets. We are very much counting on an operational political decision on the reparations loan and the full use of these funds to protect Ukraine," he said on Telegram.
The President thanked EC President Ursula von der Leyen for her leadership and support for Ukraine.
As reported with reference to EC President Ursula von der Leyen, the EC will allocate about EUR6 billion to Ukraine on Thursday from the Ukrainian Fund and the ERA mechanism. Speaking at the plenary session of the European Parliament in Brussels, she welcomed "the commitment of the European Council to cover Ukraine’s financial needs for the next two years."