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This page is the English version of Almasirah Media Network website and it focuses on delivering all leading News and developments in Yemen, the Middle East and the world. In the eara of misinformation imposed by the main stream media in the Middle East and abroad, Almasirah Media Network strives towards promoting knowledge, principle values and justice, among all societies and cultures in the world

EU Approves One Billion Euros in Financial Aid to Ukraine, Freezes Russian Assets

News - Middle East: The European Union (EU) has approved one billion euros in financial aid to Ukraine while freezing Russian assets worth more than 13 billion dollars over Moscow’s months-long military offensive in the former Soviet republic.

 

EU finance ministers announced on Monday that the one-billion-euro financial aid to Ukraine was the first installment of a promised nine-billion-euro package agreed by European leaders in May.

“This will give Ukraine the necessary funds to cover urgent needs and ensure the operation of critical infrastructure,” said Zbynek Stanjura, the finance minister of the Czech Republic, which holds the EU’s rotating presidency.

The bloc’s diplomats said the rest of the nine billion euros was held up as some member states argued over whether a country at war was in a position to sign on to long-term loans.

The latest one billion euros allocated for Ukraine is in addition to the 1.2 billion euros disbursed earlier this year by the European bloc, bringing the bloc’s total financial aid to Ukraine since Russia’s offensive started in late February to 2.2 billion euros.

Ukraine needs urgent foreign aid as the country is facing a five-billion-euro budget shortfall per month in the wake of the Russian offensive. Western governments have rushed to help Ukraine, with the G7 and others announcing commitments of 29.6 billion dollars in further funds for Kiev.

Last month, the administration of US President Joe Biden transferred 1.3 billion dollars to Ukraine as part of an initial 7.5 billion dollars promised to Kiev.

#EU #Ukraine 22-07-12
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This page is the English version of Almasirah Media Network website and it focuses on delivering all leading News and developments in Yemen, the Middle East and the world. In the eara of misinformation imposed by the main stream media in the Middle East and abroad, Almasirah Media Network strives towards promoting knowledge, principle values and justice, among all societies and cultures in the world

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