EU transfers 1.5 billion euros from frozen Russian assets to Ukraine

BRUSSELS (Reuters) - The European Union will transfer 1.5 billion euros in proceeds from frozen Russian assets to Ukraine, European Commission President Ursula von der Leyen said on social media platform X on Friday.

"Today we transfer 1.5 billion euros in proceeds from immobilised Russian assets to the defence and reconstruction of Ukraine. 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," she said.

European Union member states have been discussing options to extend the renewal period of sanctions on Russian central bank assets in order to secure a major Group of Seven loan for Ukraine, according to an EU draft document and statements from diplomats, Reuters reported on Wednesday.

(Reporting by Charlotte Van Campenhout; Editing by Alex Richardson)