US Disburses $20 Billion Loan for Ukraine That Will Be Repaid Using Russian Assets
On Tuesday, the US announced that it disbursed a $20 billion loan for Ukraine that will be paid back using interest earned on frozen Russian Central Bank assets, a step that marks an escalation of the Western economic war against Russia.
The $20 billion is part of a total $50 billion loan being provided by the Group of Seven (G7) nations. The entire loan will be paid back using the Russian assets.
“These funds — paid for by the windfall proceeds earned from Russia’s own immobilized assets — will provide Ukraine a critical infusion of support as it defends its country against an unprovoked war of aggression,” US Treasury Secretary Janet Yellen said in a statement.
