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G7 leaders agree on 50 billion loan for Ukraine using Russian assets

G7 leaders have finalized a $50 billion loan deal for Ukraine, to be repaid using profits from over $250 billion in Russian assets frozen after the invasion. The U.S. will contribute $20 billion, while the EU plans to allocate up to €35 billion, with additional funds from the U.K., Canada, and Japan. The loans will begin disbursing on December 1 and are expected to address Ukraine's urgent financing needs until the end of 2027.
POLITICO
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Finance & Economy, News Article
13:08 26.10.2024

eu approves 35 billion loan to support ukraine's economy amid g7 initiative

The EU has approved a loan of up to €35 billion to Ukraine as part of a broader G7 initiative to provide $50 billion in support for the war-affected economy by year-end. The loan will be repaid using profits from over €250 billion of Russian assets frozen in Western banks since February 2022. While the U.K. and Canada have pledged $3 billion and $3.6 billion respectively, the U.S. and Japan's contributions remain unclear, with the U.S. indicating a willingness to participate despite ongoing sanctions discussions.
POLITICO
Ukrainian Hryvnia United States Dollar Euro Russian Ruble Apple Inc. Hungary Enbi Ltd. Air Canada Russia U.K. B&P Ltd. JPN RUS UKR CAN USA Show more
Finance & Economy, News Article
12:54 22.10.2024
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