5 August 2026 19:10 (UTC+04:00)Ulviyya Poladova Read moreThe European Commission announced that the European Union has generated €1.4 billion ($1.6 billion) in windfall profits from immobilized assets of the Russian Central Bank, with the funds earmarked to support Ukraine, AzerNEWS reports. The transfer follows a €1.4 billion tranche provided in March, bringing the total windfall profits generated from immobilized Russian assets since the sanctions were imposed to €8 billion ($9.3 billion). We are using the proceeds from immobilized Russian assets to help ensure this. We are providing Ukraine with another €1.4 billion in proceeds from these assets," European Commission President Ursula von der Leyen said. The funds come from interest generated on cash balances linked to Russian Central Bank assets that were immobilized under EU sanctions following the outbreak of the war in Ukraine.