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EU provides Ukraine with $3 billion, first tranche of loans from bloc backed by Russian frozen assets

  • Ukraine has received 3 billion euros from the EU, the first tranche of loans funded by frozen Russian assets, as stated by Prime Minister Denys Shmyhal on Jan. 10.
  • The funds are part of a $50 billion loan initiative, with the EU contributing about $20 billion, according to reports.
  • The EU has frozen approximately $235 billion of Russian central bank funds since the invasion of Ukraine in 2022, with most assets immobilized in Europe.
  • This loan is crucial for Ukraine, especially as the U.S. Faces uncertainty in its support, highlighted by President Volodymyr Zelensky's statements.
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