Germany Supports US Plan to Leverage Frozen Russian Assets for $50 Billion in Ukraine Aid Amid $95 Billion Military Support

May 21, 2024, 03:40 AM

Germany has agreed to allocate additional funds to help Ukraine. In a significant development, German officials are now ready to support a U.S. plan to leverage future revenue generated from frozen Russian assets to back $50 billion in aid to Ukraine. This move comes as part of broader international efforts, with the U.S. and EU moving closer to using Russian assets to assist Ukraine, as reported by the NYT. The G7 members are reportedly warming to the idea of borrowing money against profits from seized Russian assets, mostly stranded in Europe, according to the FT. The Ramstein countries have already allocated a total of $95 billion in military support to Ukraine, and the U.S. has pledged to continue providing regular assistance packages to the Ukrainian Armed Forces.