The EU will send 160 million euros of frozen Russian assets to Ukraine

By Julia Payne

BRUSSELS (Reuters) – 160 million euros in proceeds from frozen Russian assets will be allocated to meet Ukraine’s urgent humanitarian needs this winter, European Commission President Ursula von der Leyen said on Thursday.

Russia has removed about 9 gigawatts (GW) from Ukraine’s energy infrastructure, which von der Leyen said was “the equivalent of the power of the three Baltic states”.

In addition to the cash injection, the EU will help with repairs and additional exports. The International Energy Agency said on Thursday that Ukraine could face a shortfall of 6 GW this winter as electricity demand rises.

A fuel-fired power plant is being dismantled in Lithuania and will be rebuilt in Ukraine, where 80 percent of the country’s thermal power plants were destroyed. A third of Ukraine’s hydropower is also depleted.

“We aim to restore 2.5 GW of capacity, which is 15 percent of Ukraine’s needs,” Von der Leyen said, referring to the repairs.

In addition, the EU will increase exports to provide 2 GW of electricity to Ukraine, she said.