Following Russia's unprovoked and unjustified invasion, this urgent financial support helps Ukraine address its acute financing gap related to its exceptional humanitarian and defence needs. The first instalment of €600 million from this emergency Macro-Financial Assistance operation was disbursed in two tranches on 11 and 18 March. The disbursement follows an assessment of the authorities' progress with implementing the structural policy measures agreed in the Memorandum of Understanding. The Commission has concluded that the authorities, overall, have taken action towards the implementation of the agreed conditionality. However, the current war circumstances constitute an event of force majeure that impedes the effective completion of the structural policy measures. As an exceptional response to the acute financing needs of Ukraine, and since the conditionality cannot be achieved at this stage for reasons of force majeure, the Commission decided to proceed with the disbursement of the second tranche as a matter of urgency. Since the Russian aggression started, the EU has significantly stepped up its support, mobilising around €4.1 billion to support Ukraine's overall economic, social and financial resilience.