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Canada has transferred US$1.7 billion to Ukraine from revenues generated by frozen Russian assets.

Ukrainian Prime Minister Denys Shmyhal stated that Ukraine had received about US$1.7 billion (CA$2.3 billion) from Canada under the ERA initiative. These funds come from the proceeds of Russian assets frozen in the West.

He noted that with this tranche, Ukraine has received approximately US$17.6 billion since the beginning of the year through the immobilisation of Russian assets.

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At the end of June, the UK gave missiles to Ukraine paid for with £70m interest on Russian assets.

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“We are grateful to Canada, Prime Minister Mark Carney and everyone involved in this initiative. We insist on the full confiscation of the frozen Russian assets. They are needed to compensate the victims of aggression and to rebuild our state. This will also be an act of justice to prevent aggressive wars in the future,” Shmyhal says.