The US government has agreed to allocate a $20 billion share of G7 loans to Ukraine provided under the guarantee of profits from frozen assets of the Russian Federation.
US Treasury Secretary Janet Yellen said this in a meeting with Ukrainian Treasury Secretary Sergiy Marchenko in Washington on Wednesday, Ukrinform Special Correspondent reported.
“The G7 intends to provide $50 billion in loans to Ukraine by the end of this year. The United States will also join the G7 in providing Ukraine with a $20 billion loan, which will be repaid with the benefit of Russia’s own assets. ” Yellen said.
She says this means Russia, not American or European taxpayers, will be made to pay for an illegal war.
In this regard, U.S. and Ukrainian Treasury Secretary Janet Yellen and Treasury Secretary Sergiy Marchenko signed a joint statement specifying the United States’ intentions regarding the specific allocation of funds to support Ukraine.
The US decision was announced after months of negotiations between G7 countries over a framework for a $50 billion loan to Ukraine based on guarantees from Russia’s frozen assets.
President Volodymyr Zelenskiy announced in a traditional video address that the United States would allocate $20 billion of frozen Russian assets to Ukraine.
“Now important news has arrived from the United States. The United States has decided to contribute $20 billion. These are funds guaranteed by frozen Russian assets. Part of the G7 decision on $50 billion for Ukraine “It’s for our defense and our stability. This is something that will really help us and it’s important that we do it now, thank you to the United States and thank you to the entire G7.” said the head of state.
As reported, on October 22, the European Parliament endorsed a resolution on the creation of a credit cooperation mechanism with Ukraine and the provision of exceptional macro-financial support. This is 35 billion euros from the EU and is also a mechanism to help repay loans totaling up to 45 billion euros granted by partners with funds from the profits of frozen assets of the Russian Federation.
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