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G7 Finalizes $50 Billion Loan for Ukraine Using Frozen Russian Assets

Oct 28, 2024, 03:14 PM

The Group of Seven (G7) has finalized a $50 billion loan package for Ukraine, financed from the profits of frozen Russian assets. The United States and the European Union will each contribute $20 billion, while Japan will provide $3.09 billion (471.9 billion yen). Other contributions include $3.6 billion from Canada and $3 billion from the United Kingdom. The funds are expected to start flowing in December. This package aims to support Ukraine without burdening U.S. taxpayers. Additionally, South Korea is considering reversing its policy on providing lethal aid to Ukraine, potentially sending weapons if North Korean soldiers appear on the frontlines in Ukraine, as stated by South Korean President Yoon Suk Yeol.