G7 to Provide Ukraine with Billions in Military Aid by Utilizing Frozen Russian Assets
Last month, G7 leaders came to an agreement to provide Ukraine with a loan of $50 billion by using the interest profits of the $325 billion in frozen Russian assets as collateral.
US Secretary of Treasury Janet Yallen states that the government is seeking guarantees that taxpayers will not be responsible for repaying Ukraine’s $50 billion loan backed by blocked Russian sovereign assets.
“We need assurances that make it clear that American taxpayers are not going to be on the hook to pay off these loans. And we want to make sure it satisfies the budget scorers that these assets will be the source of repayment for these loans” Yellen said during an interview at the G20 finance meeting in Brazil.
Yesterday, the EU sent €1.5 billion to Ukraine – the first transfer under a new strategy which utilizes Russia’s frozen assets – which is estimated at a staggering €210 billion across the bloc.
Ninety percent of such financial aid is for weapons, ammunition, and air defense systems for Ukraine, with the remaining 10% to fund reconstruction – especially for energy infrastructure damaged by Russian strikes.
The EU froze over €200 billion ($217 billion) in Russian central bank assets due to its war with NATO-backed Ukraine.
On June 12, the G7 demanded that Russia bear responsibility for the damages on Ukraine, which have allegedly surpassed $486 billion.
According to Kremlin spokesperson Dmitry Peskov, the EU’s desire to utilize the “stolen” cash to buy weapons for Ukraine “won’t go unreciprocated.”
He further revealed that Moscow is looking at measures to impose legal penalties on anyone who decides to exploit the revenues from Russian assets.
Ukraine is also receiving mounting pressure to establish peace, as the Kiev regime seeks to criminalize 7 million Ukrainian men who do not wish to join the war.
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