US ready to provide Ukraine with $50 billion loan from Russian asset profits: condition announced
Pravda Ukraine
The USA is ready to provide Ukraine with a US$50 billion loan, which will be repaid with the proceeds from frozen Russian assets, if the EU can extend sanctions against Moscow indefinitely.
Source: Financial Times
Washington demands that the EU extend sanctions against Russian state assets, which expire every six months, until the end of the Russian-Ukrainian war. This is necessary so that the US does not remain solely responsible for the repayments of loans provided to Ukraine.
However, any changes to the EU sanctions regime require approval from all leaders, including Viktor Orbán, who fiercely defends his veto power over sanctions. The US proposal is outlined in an EU discussion prepared for a virtual meeting of the bloc’s finance ministers, where they will discuss how to raise funds for Kyiv.
Washington insists on reaching an agreement before the G7 summit in Italy next week, where the financing mechanism from the profits of frozen assets is likely to become a central element of support for Ukraine.
The main option being considered is the US plan to provide Ukraine with a loan, possibly together with other G7 countries, roughly equal to the estimated “windfall profits” from the hundreds of billions of dollars of frozen Russian assets held in the West. Diplomats say this could be up to US$50 billion.
Background: The USA and its allies continue to explore options for using blocked Russian assets to aid Ukraine.
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