EU sends 1 billion euros in financial aid to Ukraine

The funds will help finance priority budgetary needs," Shmygal wrote on the Telegram messaging app. He said that the first tranche, amounting to 500 million euros, is already on the account of the Ukrainian central bank, while the remainder is expected to be there on Aug 2. ($1 = 0.9761 euros)

The European Union has sent Ukraine 1 billion euros ($1.0 billion) in financial aid to support its budget and help it tackle the financial consequences of the Russian invasion, Denys Shmygal, the Ukrainian prime minister, said on Monday.

"The 1 billion euros is a part of a large package of support for Ukraine ... totaling 9 billion euros. The funds will help finance priority budgetary needs," Shmygal wrote on the Telegram messaging app.

He said that the first tranche, amounting to 500 million euros, is already on the account of the Ukrainian central bank, while the remainder is expected to be there on Aug 2.