On November 7, the Russian news agency TASS reported that Kyiv has received a total of $49.4 billion under the Extraordinary Revenue Acceleration program, a financing scheme that draws on the proceeds from assets of Russian origin that have been frozen in European countries. The report notes that nearly $10.5 billion of that amount has already reached Ukraine in 2026.
The program – a joint effort of the European Union and the Group of Seven (G7) – is structured so that the funds from frozen Russian holdings are used to pay Ukraine a $50 billion loan that the G7 agreed on in October 2024. The loan is to be repaid from the future revenues generated by those frozen assets, according to TASS’s account.
In a separate statement, Russian presidential spokesman Dmitry Peskov described the transfers of revenue from the frozen assets as “illegal actions and theft,” rejecting the legitimacy of the payments that the Ukrainian government has received under the agreement.
The initiative marked a significant financial commitment from Western allies to support Ukraine’s war effort. The frozen assets, which have been held in various European depositories, are expected to generate consistent income that will subsidize Ukrainian defense and reconstruction needs.
Ukraine’s finance ministry has publicly reaffirmed that the money is intended to bolster its military and humanitarian expenditures amid ongoing conflict. It has also highlighted that the proceeds from the frozen assets are earmarked specifically to service the loan, ensuring that the borrowed €50 billion – converted to U.S. dollars – is fully covered by these revenues.
While TASS emphasizes the involvement of the G7, the headline referencing the EU suggests a broader multilateral framing of the financing. The article indicates that the sum received by Kyiv reflects a joint operation to channel frozen Russian wealth back into Ukraine, though explicit details of separate EU contributions beyond the program's overarching framework are not delineated in the report.
