"Over the next two weeks, we will also provide an additional €900 million ($1 billion) for the purchase of weapons and ammunition for Ukraine, all financed by the excess proceeds of frozen Russian assets," he said.
On May 3, EU High Representative Kaja Kalas announced that the EU would invest €1 billion ($1.1 billion) in Ukraine's defense industry.
"Last week, contracts were signed in Lviv, and now the money will be invested in advanced technologies of the Ukrainian defense industry, in particular, in the production of drones and missiles," said the representative of the EU External Action Service.
“The EU has allocated a total of €3.3 billion to support Ukraine and its defense industry.”
Earlier it was reported that the EU is looking for "more aggressive" ways to confiscate the frozen assets of the Russian Central Bank.
The EU, together with the G7 countries and Australia, has frozen about $280 billion of Russian assets in the form of securities and cash, mainly through the Belgian clearing house Euroclear.
According to the U.S. Treasury Department, sanctions against influential Russian individuals have additionally frozen assets worth about $58 billion, including luxury real estate, yachts, and private jets.
Prime Minister Denys Shmyhal said that the G7 and the EU would provide Ukraine with $50 billion in 2025, secured by frozen Russian assets.
In January 2025, the EU transferred €3 billion ($3.3 billion) to Ukraine for the first time, secured by the proceeds of frozen Russian assets.
Kallas noted on Feb. 25 that full asset confiscation lacks EU consensus.
Sanctions against frozen Russian assets must be extended every six months with the consent of all 27 EU countries. At the same time, Brussels fears that Hungary may block their extension this summer.
On May 8, 2025, Prime Minister Denys Shmyhal announced that Ukraine had received a new tranche of macro-financial assistance in the amount of €1 billion ($1.1 billion) under the ERA program. The official noted that the money will be used to cover critical budget expenditures and strengthen Ukraine.