• About
  • Advertise
  • Privacy Policy
  • Contact
Saturday, July 12, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

EU To Send €160m From Frozen Russian Assets To Ukraine

September 19, 2024
Comfort Ampomaaby Comfort Ampomaa
in Europe
0
EU To Send €160m From Frozen Russian Assets To Ukraine

President of the European Commission Ursula Von der Leyen (R) and Fatih Birol, Executive Director of the International Energy Agency (IEA) hold a press conference on the energy security of Ukraine and Moldova as winter approaches and Russia's invasion of Ukraine continues, at the European Commission headquarters.

European Commission President, Ursula von der Leyen has stated that the sum of €160m from the proceeds of frozen Russian assets will be allocated to meet Ukraine’s urgent humanitarian needs for this winter.

This was announced at a joint press conference with the Executive Director of the International Energy Agency, Fatih Birol on Thursday, September 19, 2024.

She added that a fuel power plant is being dismantled in Lithuania and will be rebuilt in Ukraine, where 80% of the country’s thermal plants have been destroyed.

RelatedPosts

Thousands Mark 30th Anniversary Of Srebrenica Massacre

Von der Leyen Survives Censure Vote

Pope Leo XIV Meets Zelenskyy

“We aim to restore 2.5 gw of capacity, which is 15% of Ukraine’s needs,” von der Leyen said.

The International Energy Agency (IEA) disclosed on Thursday that Ukraine’s energy infrastructure was under great pressure due to increasing Russian attacks on power plants, heating plants and transmission grids.

“Strains that are bearable in the summer months may become unbearable when temperatures start to fall and supplies of heat and water falter, triggering further displacement of affected populations across the country and abroad,” the energy agency said.

“Ukraine’s international partners have been providing much-needed equipment and aid throughout the war, but today’s acute situation demands further support,” the agency’s report added.

The situation could worsen as the days get shorter and colder, it said, with power supply to hospital, schools and other important facilities as well as the heat supply to major cities at risk.

“Ukraine’s energy system made it through two successive winters since Russia’s invasion, but the third promises to be the sternest of tests.”

The report said that in 2022 and 2023 “about half of Ukraine’s power generation capacity was either occupied by Russian forces, destroyed or damaged, and approximately half of the large network substations were damaged by missiles and drones”.

With Ukraine having lost more than two-thirds of its electricity production capacity since the Russian invasion, the report warned of a “yawning gap between available electricity supply and peak demand”.

It urged European countries to expedite deliveries of equipment and parts to rebuild the damaged facilities and called for measures to protect them from drones.

It also recommended increasing electricity and gas import capacity from the EU, accelerating the decentralisation of electricity production and greater investment in energy efficiency.

It estimated the cost of necessary repairs and upgrades at $30bn.

According to Ukrainian Energy Minister German Galushchenko, from October 2022 to September 2024, Russian forces attacked Ukrainian energy infrastructure 1024 times.

The attacks have affected 18 GW of generation capacity, including hydropower plants, thermal power stations, and Europe’s largest nuclear plant, the Zaporizhzhia Nuclear Power Plant.

Ursula Von Der Leyen Announces Visit To Ukraine

AA1qQ0k9
President of the European Commission Ursula Von der Leyen speaks during a press conference on the energy security of Ukraine and Moldova as winter approaches and Russia’s invasion of Ukraine continues, at the European Commission headquarters.

As the bloc seeks to help Ukraine weather Russian attacks on its energy infrastructure, European Commission President, Ursula von der Leyen announced that she will travel to Kyiv tomorrow, Friday, September 20, 2024.

“I will be travelling to Kyiv to discuss these matters in person with President Zelenskyy tomorrow in our efforts to help Ukraine,” von der Leyen told the press conference in Brussels.

Von der Leyen is expected to discuss the European Union’s support in ensuring the country’s energy security ahead of the winter season meet with Ukrainian President Volodymyr Zelenskyy.

“The heating season begins in two weeks,” she said.

“As temperatures drop, the EU is ready to intensify its support for Ukraine. We are preparing for winter together,” she iterated.

READ ALSO: Sammy Gyamfi Slams Government for Failing to Employ Allied-Health Professionals

Please login to join discussion
Previous Post

Starmer Faces Backlash Over Donations And Aide’s Salary

Next Post

Ghana’s Economy Surges with 5.8% GDP Growth Recovery

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

Ewurabena Aubynn
General News

NDC’s Ewurabena Aubynn Secures Historic Victory in Ablekuma North Rerun

July 11, 2025
Minority Decries Violence, Police Inaction in Ablekuma North Rerun, Polling, Violence
General News

Minority Decries Violence, Police Inaction in Ablekuma North Rerun

July 11, 2025
BoG’s Ban on 10 Money Transfer Organisations Sparks Transparency Debate
Banking

BoG Stress Test Uncovers Banks’ Credit Vulnerability Amid Strong Liquidity Defences

July 11, 2025
AU Urges Human Dignity In Corruption Fight
Africa

AU Urges Human Dignity In Corruption Fight

July 11, 2025
Deadly Rush Confirms Fears About Gaza Humanitarian Foundation
Asia

Nearly 800 Killed While Trying To Receive Food Aid In Gaza

July 11, 2025
Shamima Muslim,
General News

Government Condemns Journalist Assaults During Ablekuma North Rerun

July 11, 2025
Ewurabena Aubynn
General News

NDC’s Ewurabena Aubynn Secures Historic Victory in Ablekuma North Rerun

by Evans Junior OwuJuly 11, 2025
Minority Decries Violence, Police Inaction in Ablekuma North Rerun, Polling, Violence
General News

Minority Decries Violence, Police Inaction in Ablekuma North Rerun

by Silas Kafui AssemJuly 11, 2025
BoG’s Ban on 10 Money Transfer Organisations Sparks Transparency Debate
Banking

BoG Stress Test Uncovers Banks’ Credit Vulnerability Amid Strong Liquidity Defences

by Stephen M.CJuly 11, 2025
AU Urges Human Dignity In Corruption Fight
Africa

AU Urges Human Dignity In Corruption Fight

by Lawrence AnkutseJuly 11, 2025
Deadly Rush Confirms Fears About Gaza Humanitarian Foundation
Asia

Nearly 800 Killed While Trying To Receive Food Aid In Gaza

by Comfort AmpomaaJuly 11, 2025
Shamima Muslim,
General News

Government Condemns Journalist Assaults During Ablekuma North Rerun

by Silas Kafui AssemJuly 11, 2025
Ewurabena Aubynn
Minority Decries Violence, Police Inaction in Ablekuma North Rerun, Polling, Violence
BoG’s Ban on 10 Money Transfer Organisations Sparks Transparency Debate
AU Urges Human Dignity In Corruption Fight
Deadly Rush Confirms Fears About Gaza Humanitarian Foundation
Shamima Muslim,
[/vc_row_inner]

Recent News

  • NDC’s Ewurabena Aubynn Secures Historic Victory in Ablekuma North Rerun
  • Minority Decries Violence, Police Inaction in Ablekuma North Rerun
  • BoG Stress Test Uncovers Banks’ Credit Vulnerability Amid Strong Liquidity Defences
  • AU Urges Human Dignity In Corruption Fight
  • Nearly 800 Killed While Trying To Receive Food Aid In Gaza
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.