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in Europe

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

Comfort Ampomaaby Comfort Ampomaa
September 19, 2024
Reading Time: 3 mins read
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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.

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.

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

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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.”

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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.

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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

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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

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