The United States will allocate $15 billion to Ukraine. These funds are secured by future revenues from frozen Russian assets.
Points of attention
- The agreement between the Ministry of Finance of Ukraine, the World Bank, and the United States provides for the allocation of $15 billion to Ukraine from frozen Russian assets.
- The financial package is part of the G7 program, under which Ukraine will be provided with a total of $20 billion for social and humanitarian spending.
- G7 leaders call for a ban on Russian sovereign assets and provide a $50 billion loan for Ukraine.
- Ukraine has received support from the United States and the World Bank in the fight against Russian aggression and is compensating for the losses caused to the country as a result of military actions.
- Russia's sovereign assets will remain frozen until the Kremlin compensates for all damage caused to Ukraine, G7 leaders confirmed.
US to provide Ukraine with $15 billion from frozen Russian assets
As reported by Prime Minister of Ukraine Denys Shmyhal, the Ministry of Finance of Ukraine and the World Bank signed an agreement that provides for the use of these funds within the framework of the PEACE in Ukraine project.
The financial package is part of a larger initiative in which the United States is providing Ukraine with $20 billion under the G7 program.
The funds will be used for social and humanitarian expenses.
"We thank the United States and the World Bank for supporting the initiative that forces Russia to pay for its aggression against Ukraine," Shmyhal emphasized.
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.
Recall that on December 24, Ukraine received $1 billion from the United States, secured by proceeds from frozen Russian assets.
