EU to send 160 million euros from frozen Russian assets to Ukraine
European Commission President Ursula von der Leyen announced that 160 million euros from frozen Russian assets will be allocated to address Ukraine's urgent humanitarian needs this winter. She highlighted that Russia has significantly damaged Ukraine's energy infrastructure, equating the loss to the combined power supply of the three Baltic states.
- Middle East
- Reuters
- Published Date: 01:50 | 19 September 2024
- Modified Date: 01:53 | 19 September 2024
The sum of 160 million euros from the proceeds of frozen Russian assets will be allocated to meet Ukraine's urgent humanitarian needs for this winter, European Commission President Ursula von der Leyen said on Thursday.
Russia has knocked out about 9 gigawatts (GW) of Ukraine's energy infrastructure, which von der Leyen said was the "power equivalent of the three Baltic states".
On top of the cash injection, the EU will help with repairs and additional exports. The International Energy Agency said on Thursday that Ukraine could face a shortfall of 6 GW this winter as peak electricity demand increases.
A fuel power plant is being dismantled in Lithuania and will be rebuilt in Ukraine, where 80% of the country's thermal plants have been destroyed. A third of Ukraine's hydropower is also out.
"We aim to restore 2.5 GW of capacity, which is 15% of Ukraine's needs," Von der Leyen said, referring to repairs.
In addition, the EU will increase exports to supply 2 GW of electricity to Ukraine, she said.
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