Iceland will allocate €1.5 million to Ukrainian energy companies under an agreement signed between the Icelandic Ministry of Foreign Affairs and the Energy Community Secretariat on 3 February.
The Energy Community Secretariat is co-managed by the European Commission and acts as a fiduciary of the Ukraine Energy Support Fund. The Fund was set up to enable Ukraine to receive donations to finance the purchase of fuel, equipment, services and capital needed to repair energy and heating infrastructure damaged by Russian attacks.
Iceland has become the sixth European country after the UK, Denmark, Germany, Austria and Spain to decide to support the Ukrainian energy sector through the Ukraine Energy Support Fund, along with the European Commission and other international organisations. As of 3 February 2023, accumulated contributions amounted to more than €157 million.
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