Japan has committed approximately $3 billion in financial aid to Ukraine under the G7’s new ERA (Extraordinary Revenue Acceleration) mechanism, aimed at leveraging profits from frozen Russian sovereign assets. The agreement was formalized between Ukrainian Finance Minister Serhii Marchenko and Japanese Ambassador Masashi Nakagome.
The funds will be distributed over a 30-year period and are intended to support Ukraine’s immediate fiscal needs and long-term reconstruction following Russia’s 2022 invasion. The loan will be repaid through future earnings generated by Russian assets that were immobilized by G7 countries as part of sanctions.
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Ukraine’s finance ministry highlighted the pledge as a vital boost during a critical time. “This agreement not only meets critical fiscal demands but also underscores Japan’s steadfast commitment to democratic values and support for Ukraine,” Marchenko stated.
Japan has now provided more than $8.5 billion in assistance to Ukraine. This latest move aligns with the broader G7 strategy announced in July 2024, which includes a $50 billion package financed by interest accrued on around €280 billion in frozen Russian assets globally.
