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Sat, Dec 21, 2024 | Jumada al-Aakhirah 20, 1446 | DXB
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EU to send 160 million euros from frozen Russian assets to Ukraine
EU will also help with repairs and additional exports to help Ukraine meet shortage of electricity this winter
- By
- Reuters
European Commission President Ursula Von der Leyen looks on as she arrives for a meeting of the Board of Commissioners in Brussels on Wednesday. AFP
A technician mans an excavator as they repair heating pipes damaged during Russian shellings in the city of Kramatorsk, eastern Ukraine. AFP File Photo
The sum of 160 million euros from the proceeds of frozen Russian assets will be allocated to meet Ukraine's urgent humanitarian needs for this winter, European Commission President Ursula von der Leyen said on Thursday.
Russia has knocked out about 9 gigawatts (GW) of Ukraine's energy infrastructure, which von der Leyen said was the "power equivalent of the three Baltic states".
On top of 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 peak electricity demand increases.
A fuel power plant is being dismantled in Lithuania and will be rebuilt in Ukraine, where 80% of the country's thermal plants have been destroyed. A third of Ukraine's hydropower is also out.
"We aim to restore 2.5 GW of capacity, which is 15% of Ukraine's needs," Von der Leyen said, referring to repairs.
In addition, the EU will increase exports to supply 2 GW of electricity to Ukraine, she said.
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