The United States has fulfilled its October commitment under the G7 initiative and has already transferred funds to the World Bank special fund.
On Tuesday, December 10, the US Treasury announced the allocation of a $20 billion loan for Ukraine's needs as part of the G7 initiative to provide emergency loans in the amount of $50 billion.
This is stated in the press release of the US Treasury.
“These funds, paid from windfall revenues from Russia's own frozen assets, will provide critical support to Ukraine in its defense against an unprovoked war of aggression,” Treasury Secretary Janet Yellen said.
She added that the $50 billion provided by the G7 nations together will help provide Ukraine with the resources it needs to bolster emergency services, hospitals and other institutions supporting resistance on the home front.
“Together with America's security assistance to Ukraine and the steps we will continue to take to decisively strengthen sanctions on Russia, these actions will further strengthen Ukraine's position to defend its sovereignty and achieve a just peace. Right now, Putin is engaging our coalition in a contest of wills, counting on us to tire and finally back down… We are sending a clear signal of resolve by forcing Russia to increasingly bear the costs of its illegal war, rather than the taxpayers in our coalition,” Yellen added.
Following Russia’s brutal invasion of Ukraine, G7 members took bold action to immobilize Russia’s sovereign assets in their jurisdictions and pledged that those assets would remain frozen until Russia ceases its aggression and pays for the harm it has done to Ukraine.
Today, the United States fulfilled its October commitment to provide $20 billion to Ukraine under this initiative and transferred the funds to a special World Bank fund through which they will be provided to Ukraine.
“Support for Ukraine is also vital to the national interests of the United States. Allowing Ukraine to lose would invite further aggression by Putin and jeopardize the security of our NATO allies in Europe, whom we are obligated by treaty to protect,” the press release said.
Recall that Trump said that he would “likely” give Ukraine less aid than Biden. At the same time, he added that he is actively trying to end the war in Ukraine.
