On December 24, Ukraine received $1 billion from the United States, secured by proceeds from frozen Russian assets.
Points of attention
- Ukraine received a crucial $1 billion tranche from the US funded by frozen Russian assets, marking a significant step in the planned $20 billion support framework.
- G7 leaders are backing the freezing of Russian assets until compensation is provided to Ukraine, with a commitment to a $50 billion loan to aid in the country's restoration.
- The Prime Minister of Ukraine expressed gratitude to American partners and the World Bank for the pivotal contribution towards justice and rebuilding efforts in the nation.
- Sovereign assets of Russia will remain frozen post-war until Ukraine is adequately compensated for its losses, ensuring accountability for aggression.
- The G7 leaders have outlined their stance on keeping Russian sovereign assets blocked until Moscow ends its aggression and fully compensates Ukraine for damages, emphasizing solidarity with Ukraine.
Ukraine received the first of $20 billion secured by frozen Russian assets
This was announced by Prime Minister of Ukraine Denys Shmyhal.
This is the first tranche of the planned $20 billion that the United States is ready to allocate by using frozen Russian assets within the framework of the G7 initiative.
Denys Shmyhal
Prime Minister of Ukraine
The Prime Minister thanked American partners and the World Bank for this important step on the path to justice.
We expect that all sovereign Russian assets will be confiscated and directed towards the restoration of Ukraine.
Russian assets will remain frozen even after the war ends
As the publication notes, G7 leaders will issue a statement in October stating that Russian sovereign assets will remain frozen until Moscow compensates Ukraine for the damages caused.
"We confirm that Russia's sovereign assets in our jurisdictions will remain blocked until it ceases its aggression and compensates for the damage caused to Ukraine," the G7 leaders' draft statement, prepared by Italy, states.
The document also states that the bloc's countries will provide Ukraine with a loan worth $50 billion.
