EU allocates $1.6 billion from frozen Russian assets to Ukraine

The European Union has allocated 1.5 billion euros ($1.6 billion) to support Ukraine, sourced from profits on frozen Russian assets. This funding is part of a broader initiative to utilize interest from approximately 210 billion euros ($225 billion) in immobilized Russian central bank assets. The EU estimates these assets could generate around 3 billion euros annually for Ukraine's defense and reconstruction efforts.