US, EU, and G7 Move Closer to Using Russian Assets for €30 Billion Loan to Support Ukraine

May 19, 2024, 09:05 PM

The US and EU are moving closer to using Russian assets to support Ukraine, according to the New York Times. G7 leaders are discussing a €30 billion loan for Ukraine, with the potential to use €270 billion in frozen Russian state assets as collateral. Treasury Secretary Janet Yellen stated that G7 allies are considering this plan as a way to demonstrate their ongoing support for Ukraine. The plan also aims to ensure that aid to Ukraine is safeguarded against potential future changes in US policy, such as those that could occur under a different administration. G7 finance ministers are set to debate the legality of using these frozen assets, and the plan is described as 'Trump-proofing' Ukraine aid.