European Commission, Ukraine sign memorandum on 18.1 bln euro loan using Russian frozen assets

BRUSSELS. Nov 28 (Interfax) - European Commission Executive Vice-President Valdis Dombrovskis said he has signed on behalf of the European Union a memorandum of understanding with Ukraine on a macrofinancial loan worth 18.1 billion euros.

"Honored to sign MoU [memorandum of understanding] with Ukraine on behalf of EU for 18.1 billion euros in macro-financial assistance to help cover immediate needs," Dombrovskis said on the social network X on Thursday.

"It is part of G7 initiative to support Ukraine using revenues from immobilized Russian assets," Dombrovskis said.

In June, participants in the G7 summit in Italy agreed to use the revenues from the Russian frozen assets to help Ukraine. They discussed the provision to Kiev of loans in an amount of $50 billion before the end of this year.

U.S. Secretary of State Antony Blinken said on November 26 the G& states had started the final stage of the work to provide this $50 billion to Ukraine.