European Commission President Ursula von der Leyen on Friday announced the allocation of a tranche of EUR 1.5 billion of revenue from immobilized Russian assets to defense and reconstruction of Ukraine.

"Today we transfer EUR 1.5 billion in proceeds from immobilized Russian assets to the defense and reconstruction of Ukraine. There is no better symbol or use for the Kremlin’s money than to make Ukraine and all of Europe a safer place to live," she said on the X network.