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EU disburses €3 billion to Ukraine backed by frozen Russian assets

Mauro Sbicego / Unsplash

The European Union has disbursed €3 billion to Ukraine's state budget as part of EU's contribution under the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative.

The ERA initiative — which envisages the allocation of $50 billion to be allocated to Ukraine — will be backed by future revenues from Russian frozen assets.

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