**EU to Get Second Tranche of Funds from Frozen Russian Assets**
The European Union will receive a second payment of 2 billion euros ($2.05 billion) from profits generated by frozen Russian Central Bank assets meant for Ukraine.
This money comes from Russia’s foreign exchange reserve assets that were frozen in Europe after the full-scale invasion of Ukraine in February 2022. Over $300 billion of these funds are being held in the international depository Euroclear in Belgium.
**First Payment Made Last July**
In July last year, Euroclear made its first payment of 1.55 billion euros ($1.7 billion) to the EU after passing legislation that applied a windfall tax to profits generated by Russia’s frozen assets.
**Euroclear Earned 6.9 Billion Euros in 2024**
According to Euroclear, they earned 6.9 billion euros ($7.18 billion) from these frozen Russian assets in 2024. This is a significant increase from the 4.4 billion euros ($4.6 million) earned in 2023.
**Money Transferred to Belgian Budget and G7 Loan Fund**
Of the profits generated by Euroclear in 2024, 1.7 billion euros ($1.77 billion) was transferred to the Belgian budget as tax revenues. Additionally, a $50 billion loan agreement was made between the Group of Seven countries last year, which will be paid back using the profits from frozen Russian assets.
**Second Payment Expected in March**
The second payment of 2 billion euros is expected to be made in March this year. This money will go towards supporting Ukraine and its war effort.
Read More @ kyivindependent.com