The US has pledged $20 billion to Ukraine as part of the G7’s efforts to accelerate the provision of funding to the country from frozen Russian assets. The loan, backed by interest profits from Russian assets, is set to be repaid in 2025 without using Ukraine’s own resources. Ukrainian Finance Minister Sergii Marchenko and US Treasury Secretary Janet Yellen signed a joint statement confirming the loan’s terms. The EU has also agreed to contribute up to €35 billion, while the UK, Japan, and Canada are set to announce their contributions.
This historic move marks the first time a multilateral coalition has frozen an aggressor’s assets to benefit the attacked country. However, it remains uncertain whether the funds can be used for Ukraine’s military defense against Russia. Analysts suggest that the aid has broader implications beyond budget support, including security-related purposes.
Overall, the international community’s support for Ukraine reflects a united effort to address the ongoing conflict and provide vital financial assistance to the country.
Source link