U.S. Provides $20 Billion Loan to Ukraine, Backed by Frozen Russian Assets

Dec 10, 2024, 06:21 PM

The U.S. has provided Ukraine with a $20 billion loan, which will be repaid using the profits generated from immobilized Russian central bank assets. This initiative, part of a broader $50 billion G7 Loans initiative, aims to offer critical support to Ukraine amidst its ongoing conflict. The loan was announced by the U.S. Department of the Treasury, with U.S. Treasury Secretary Janet Yellen emphasizing that the funds are derived from Russia's own frozen assets.