The US Treasury Department announced the allocation of $20 billion in credit to Ukraine as part of the G7 Extraordinary Revenue Acceleration initiative, which provides for a total assistance of $50 billion.
This is stated on the departmentʼs website.
“The $50 billion that the G7 is collectively providing under this initiative will help provide Ukraine with the resources needed to support emergency services, hospitals, and other essentials for its courageous resistance,” said the US Treasury Secretary Janet Yellen.
Frozen Russian assets
The value of frozen Russian sovereign assets in the EU is almost €211 billion. In total, the European Union, the G7 countries and Australia have frozen approximately €260 billion in securities and cash.
On October 23, the EU Council finally approved a loan of up to €35 billion to Ukraine. The money is the blocʼs contribution to the G7 initiative to provide Ukraine with a $50 billion (€45 billion) loan, which will be repaid with the proceeds from frozen Russian assets.
And on October 26, the G7 countries agreed to a $50 billion loan for Ukraine using the proceeds from Russiaʼs frozen assets.
The funds will be transferred "through various channels" — both to replenish the Ukrainian budget, and for military assistance and the restoration of Ukraineʼs infrastructure.
Reuters notes that Ukraine will receive all funds under the loan by the end of 2027.
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