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The money comes from interest generated on frozen Russian funds, not the funds themselves, as they remain locked outside Moscow.
Brussels said 90 percent of the money would go into a central fund used to pay for Ukrainian arms purchases, known as the European Peace Fund.
The remaining 10% will go to a separate EU Ukraine fund to support the country’s reconstruction needs.
Ukrainian Prime Minister Denis Shimgal thanked the EU for its support.
“Thank you to von der Leyen and the EU for their unwavering support and significant contribution to Ukraine’s defense and reconstruction,” he said on social media.
“We thank the EU for this important step. The transfer will help us strengthen our national defence capabilities,” Ukraine’s defence ministry said.
However, Russia condemned the “illegal” move.
“This is certainly a reason to take well-thought-out action against such illegal decisions implemented by the European Union,” Dmitry Peskov, spokesman for Russian President Vladimir Putin, told reporters.
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