US allocates $20 billion to Ukraine from frozen Russian assets
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The United States Treasury Department is allocating $20 billion in loans to Ukraine. Funds from frozen Russian assets will be used. This is part of the G7 initiative, which provides for the allocation of $50 billion in total.
This was mentioned in the statement of the US Treasury Department, published on Tuesday, December 10.
Ukraine will receive $20 billion in credit
As noted in the Treasury Department, the US announced the allocation of $20 billion in favor of Ukraine within the G7 initiative. In total, Ukraine will receive $50 billion.
"These funds, paid for by unexpected revenues received from Russia's own frozen assets, will provide Ukraine with important support as it defends its country from an unprovoked aggressive war," Treasury Secretary Janet Yellen said.
The US Treasury Department said in a statement that the United States had fulfilled its October commitment to provide Ukraine with $20 billion under the initiative. The funds were transferred to the World Bank Resource Assistance Fund. They will be available to Ukraine in the future.
"The continued support for Ukraine in the face of Russian aggression demonstrates the determination of the United States and our partners to defend democracy from belligerent authoritarian regimes, protect the global economy, and strengthen our collective security. Supporting Ukraine is also vital to the national interests of the United States. Allowing Ukraine to fall would lead to further aggression by Putin and jeopardize the security of our NATO allies in Europe, which we are obligated to protect under the treaty," the statement said.
It should be recalled that the administration of the US President Joe Biden announced a new security assistance package for Ukraine totaling $988 million. It will not only provide weapons.
Germany has announced a new military aid package for Ukraine. The transferred weapons include Leopard 1 tanks and air defense systems.
