Yesterday, December 10, the US Treasury announced the transfer of $20 billion to Ukraine as part of the G7 initiative to use frozen Russian assets.
How writes “European Truth”, referring to a message from the US Treasury, Treasury Secretary Janet Yellen noted that funds for assistance to Ukraine are provided through excess revenues from the use of immobilized assets of the Russian Federation.
This is part of the G7 plan to provide Ukraine with 50 billion euros from Russian assets: Formally, the funds will be provided in the form of a loan, but repayment will occur through a tax on excess profits received from frozen Russian assets.
At the same time, Ukraine will receive the funds indirectly: they were transferred to the World Bank fund “Facilitating the attraction of resources for investments in strengthening financial intermediation in Ukraine” (FORTIS Ukraine FIF). Yellen emphasizes:
“The $50 billion that the G7 is collectively providing through this initiative will help provide Ukraine with the resources it needs to support emergency services, hospitals and other pillars of its courageous resistance.”
As part of this G7 plan, each state takes on different obligations to provide credit to Ukraine. EUfor example, will provide macro-financial assistance worth 18.1 billion euros using frozen assets. The European Union explained that the funds will be provided in equal tranches monthly in 2025 and can also be used for defense purposes.
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