EU Leverages Frozen Russian Assets for €1.5 Billion Aid Package to Ukraine [Yahoo! Finance]
Goldman Sachs Group, Inc. (The) (GS)
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Source: Yahoo! Finance
"Today we transfer 1.5 billion in proceeds from immobilized Russian assets to the defense and reconstruction of Ukraine," von der Leyen wrote on X. "There is no better symbol or use for the Kremlin's money than to make Ukraine and all of Europe a safer place to live." Following Moscow's unprovoked invasion of Ukraine in February 2022, the West froze some 276 billion euros ($300 billion) in sovereign Russian wealth funds and the Group of Seven (G7) industrialized countries last month decided to service a $50 billion loan for Ukraine with proceeds generated by Russia's frozen assets, prompting Moscow to threaten legal action. On July 25, EU Economic Commissioner Paolo Gentiloni said the G7 was likely to have a framework deal on the loan for Ukraine's defense and reconstruction by October, according to Euractiv.com. Ukrainian Prime Minister Denys Shmyhal voiced gratitude for the EU move in a message on X. "Thank you, @vonderleyen, and the EU for your steadfast support and this s
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