US grants Ukraine $20 bln loan from frozen Russian assets
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The USA has agreed to lend 20 billion dollars to Ukraine, with the repayment coming from the frozen Russian assets in the West.
The President of Ukraine, Volodymyr Zelensky, reported that.
"There is now important news from the United States: America has decided to allocate 20 billion dollars. These are funds secured by frozen Russian assets," Zelensky said.
He made it clear that the USA has committed 20 billion dollars as part of the "Big Seven's" decision to give Ukraine a total of 50 billion dollars. This is crucial for protecting and maintaining stability in Ukraine.
"It is important to implement this already this year. Thank you to the United States and to the entire Group of Seven," the president added.
For reference:
It is worth reminding that on June 14, at the G7 Summit in Italy, the leaders of the G7 countries agreed to allocate about 50 billion US dollars to Ukraine by the end of the year. The funds will be serviced and repaid through future earnings from frozen sovereign Russian assets in the European Union and other jurisdictions.
Subsequently, on June 24, the European Union countries approved the first tranche of military aid for Ukraine in the amount of 1.4 billion euros, which will come from the revenues from frozen Russian assets.
Ukraine is set to be granted a $2.93 billion loan from Britain utilizing frozen Russian assets. This loan is part of the larger international aid package totaling US$50 billion from the G7 nations. The funds will support Ukraine's efforts to address military, budget, and reconstruction matters in response to Russian aggression.
Moreover, the countries of the "Big Seven" (G7) intend to keep Russian assets frozen even after the end of the war with Ukraine.
