US and EU close to $50 billion agreement for Ukraine from Russian assets—Bloomberg
Photo: The US and EU are close to a deal on $50 billion for Ukraine from Russian assets (Getty Images)
The United States and the European Union are approaching an agreement on specific terms for providing Ukraine with $50 billion in financial assistance, using profits from frozen Russian assets, according to Bloomberg.
According to sources of the agency, the United States has informed the European Union that it will contribute $20 billion to a large aid package for Ukraine, led by the G7, if the EU changes its legislation regarding sanctions against Russia and provides more guarantees that Russian assets will remain frozen.
It is noted that even if the EU does not make changes, the US will still make a contribution to the planned $50 billion package, but with a lower amount.
Loan to Ukraine from the EU
In June, leaders of the G7 countries agreed to provide Ukraine with a $50 billion loan, which will be funded by profits from frozen Russian assets.
The EU also approved a loan of €35 billion for Ukraine, secured by future profits from the assets of the Russian central bank. This will ensure stable financial support for Ukraine, especially in the event of potential changes in US policy.
Iryna Mudra, Deputy Head of the Presidential Office, stated that it is still unclear how Ukraine could receive the loan based on revenues from frozen Russian assets amounting to $50 billion, as there is a lack of political will to allocate the funds.
