The European Commission has today disbursed the first €3 billion tranche of its loan to Ukraine, which will be repaid with proceeds from immobilised Russian State assets in the EU. The total amount of the loan, which is part of the financial assistance plan for the occupied country, is €18.1 billion to be disbursed in 2025. This represents the EU’s contribution to the G7-led Extraordinary Revenue Acceleration (ERA) loans initiative, which has a total value of approximately €45 billion. Indeed, these European resources will help Ukraine to meet its military, financial and reconstruction needs, namely to restore energy, water, transport and road infrastructure destroyed by Russia. The loan offers high flexibility and very favourable terms to Ukraine, with very long maturities (to up to 45 years), Brussels explains. Repayments will be ensured not through Ukraine’s own resources, but through the profits collected from immobilized Russian assets, sending a clear signal that “the burden of rebuilding Ukraine will be shouldered by those responsible for its destruction”. “Almost 3 years into Russia’s war of aggression”, President Ursula von der Leyen said, “Ukraine can keep counting on its friends and partners. We give Ukraine the financial power to continue fighting for its freedom – and prevail. Just like the brave Ukrainian resistance, our support will be steadfast”. So far, Europe has provided nearly €134 billion in support to Ukraine.