Ukraine Secures $50 Billion G7 Loan, Repayable with Frozen Russian Assets, Blinken Confirms

Dec 4, 2024, 05:34 PM

Ukraine has entered into a significant financial agreement with the European Union (EU) and the Group of Seven (G7) countries, securing up to 35 billion euros in macro-financial assistance through a loan agreement. The funds, part of a larger $50 billion loan from the G7, are intended to bolster Ukraine's macro-financial stability and support state-owned enterprises. The loan will be repaid using future profits from frozen Russian sovereign assets in the EU. U.S. Secretary of State Antony Blinken has confirmed that Ukraine will receive $50 billion from these assets in the coming weeks, highlighting a coordinated U.S.-EU plan to expedite the transfer of funds.