RT International The loan will be secured from Russia’s sovereign assets, frozen by the West, the US Secretary of State has said
US Secretary of State Antony Blinken has said that the Group of Seven (G7) is actively working on finalizing a multi-billion-dollar loan package for Ukraine from Russian sovereign assets frozen by the West.
Speaking at a press briefing following the G7 meeting in Italy, Blinken voiced the group’s commitment to ensuring that Kiev has sufficient funds and munitions to continue fighting “effectively” in 2025 or to engage in any potential negotiations with Moscow from a position of strength.
“In our support for Ukraine, we are finalizing getting out the door the $50 billion that has been secured on the basis of the Russian sovereign assets that are frozen,” Blinken stated.
The US and its allies froze an estimated $300 billion in assets belonging to the Russian central bank following the escalation of the Ukraine conflict in February 2022. In June, the G7 members pledged a $50 billion loan for Kiev, which will be repaid using Moscow’s money.
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