This sum is part of the 50 billion loan promised by the G7.
Published on 10/12/2024 21:44
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Washington announced the release of 20 billion dollars for Ukraine on Tuesday October 10. The payment of this sum is part of a loan of 50 billion dollars promised by the G7 countries, and which will be repaid by the interest on Russian assets frozen due to the sanctions.
“The United States has followed up on its October commitment (…) by transferring these funds” on the World Bank's intermediate fund dedicated to Ukraine, “through which they will be made available to Ukraine”the US Department of the Treasury said in a statement.
After months of discussions, G7 leaders reached an agreement in October to use the interest generated by Russian sovereign assets frozen in their jurisdictions due to sanctions taken by Western countries, to guarantee a $50 billion loan. in favor of Ukraine.
“These funds – financed by windfall revenues from Russia's fixed assets – will provide Ukraine with essential support”said Treasury Secretary Janet Yellen. The Biden administration is working to accelerate its aid to Ukraine before the transfer of power to the Trump administration on January 20. She announced on Saturday aid estimated at $988 million for kyiv.