European Union will use €1.4 billion ($1.6 billion) taken from interest generated by frozen Russian assets to help Ukraine, the European Commission said on Wednesday. The money, transferred to the bloc on August 3, came from interest on cash balances, part of Russian central bank assets frozen by the EU in the wake of Moscow's invasion, the Commission added. "Russia must pay for the destruction it has caused. And we are using the proceeds from the immobilized Russian assets to make sure it does," Reuters quoted European Commission President Ursula von der Leyen as saying in the statement. "We are making a further €1.4 billion of them available to Ukraine. This will support Ukraine's continued resistance against Russia's illegal war," she added. Russia has significantly upped its attacks on the Ukrainian capital in recent months, typically firing salvos of hard-to-intercept ballistic missiles in short blitzes that rock buildings and send booms echoing across the city.
