U.S. Provides $20 Billion Loan to Ukraine, Part of $50 Billion G7 Package, Repaid with Russian Assets

Dec 11, 2024, 11:57 AM

The Biden administration has announced a $20 billion loan to Ukraine, which will be repaid using the interest earned from $300 billion in frozen Russian assets. This loan is part of a larger $50 billion support package from the G7 nations aimed at bolstering Ukraine's defense and recovery efforts. The U.S. Treasury Department has already transferred the funds to a World Bank intermediary fund, marking a significant financial move to make Russia bear the cost of its illegal war on Ukraine.