EU Accuses G7 Countries of Delaying $7 Billion Loan to Kyiv Backed by Russian Assets Revenue

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G7 countries have yet to transfer about $7 billion to Ukraine as part of the international credit program ERA, which is backed by revenues from reinvested frozen Russian assets, according to a briefing by European Commission representative Balázs Ujvári, as reported by TASS.

Ujvári noted that the total agreed funding under the program amounts to $45 billion, of which Kyiv has already received $38 billion. The remaining funds are currently delayed, despite an earlier agreed payment schedule.

He emphasized that the European Union has fully fulfilled its obligations under the initiative, transferring the stipulated 18 billion euros to Ukraine. As a result, Brussels expects other participants in the mechanism—including the U.S., Japan, and the UK—to expedite the transfer of the remaining promised funding.

The ERA program was agreed upon by G7 countries in 2024 and provides credit assistance to Kyiv, secured by revenues from frozen Russian assets in Europe. Initially, it was anticipated that the entire funding package would be transferred to the Ukrainian side by the end of 2025.

According to European Commission documents, the final repayment of obligations under this credit line is scheduled until 2042. This means that, until that date, Brussels does not plan to consider the issue of unfreezing the Russian assets used as collateral for the loan.