Parliamentary question - E-001278/2025(ASW)Parliamentary question
E-001278/2025(ASW)
European Parliament

Answer given by High Representative/Vice-President Kallas on behalf of the European Commission

19.5.2025

Written question

As part of the sanctions imposed by the EU on Russia in response to its war of aggression against Ukraine, the assets of the Central Bank of Russia held by central securities depositories (CSDs) in the EU have been immobilised since February 2022[1].

In May 2024, the Council decided to set aside the extraordinary (‘windfall’) profits stemming from Russian immobilised sovereign assets and to use those profits for the benefit of Ukraine[2].

In July 2024, the first financial contribution of EUR 1.5 billion of ‘windfall profits’, accrued since February 2024, has been received from CSDs and has since been disbursed to help Ukraine. In April 2025, a second transfer of EUR 2.1 billion of windfall profits accrued during the second half of 2024 has been received to be used to support Ukraine. Following up on the commitments by the Group of Seven (G7) leaders to make available approximately USD 50 billion (EUR 45 billion) loans by the end of 2024 by leveraging the extraordinary revenues of the immobilised Russian sovereign assets, the EU adopted a new financial assistance package to Ukraine[3]. It consists of an exceptional macro-financial assistance loan of up to approximately EUR 18 billion and a loan cooperation mechanism that will support Ukraine in repaying loans provided by the EU and G7 partners for up to EUR 45 billion. The loan cooperation mechanism is to be financed by extraordinary revenues stemming from immobilised Russian assets.

All legally and financially sound options remain on the table to continue pressuring Russia to stop its war of aggression against Ukraine. Any further measures regarding Russian immobilised assets are to be determined by the Council.

Last updated: 20 May 2025
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