U.S. Treasury Secretary Janet Yellen announced that G7 and EU partners are nearing a $50 billion loan to Ukraine backed by frozen Russian assets, with the U.S. contributing $20 billion.
On Tuesday, U.S. Treasury Secretary Janet Yellen reported that G7 and EU allies are approaching the finalization of a $50 billion loan to Ukraine, which will be secured by frozen Russian assets. The U.S. is projected to contribute roughly $20 billion to this effort.
During a news conference at the beginning of the International Monetary Fund and World Bank annual meetings, Yellen expressed confidence that the Russian sovereign assets, primarily located in Europe, will stay immobilized despite the EU's need to renew the freeze every six months.
Republican presidential candidate Donald Trump pledged to "get out" of the Russia-Ukraine war, highlighting the urgency for G7 allies to finalize the loan ahead of the Nov. 5 U.S. elections.
Earlier on Tuesday, EU lawmakers approved the bloc's plan to utilize frozen Russian assets for a loan of up to 35 billion euros ($38 billion).
Yellen indicated that the U.S. is ready to contribute about $20 billion to the loan and that there are "nothing significant that still needs to be worked out."
The U.S. pushed for stronger assurances from the EU that the funds, primarily held by Euroclear in Belgium, would remain frozen for an extended period, even if a truce in Ukraine is reached. This would minimize the risk of U.S. taxpayers being responsible for repaying the loan.
Yellen stated that the U.S. is willing to accept the EU's commitment to maintaining the long-term freeze on the assets, particularly in light of the current situation of the war. "I think the assurances are already there. We asked for some mild strengthening, but feel good that this is a secure loan that will be serviced by Russian assets, by Russia and not by American taxpayers," Yellen noted.
In her prepared remarks, she mentioned that the U.S. would introduce strong new sanctions as early as next week, targeting entities that support Russia's military efforts in Ukraine, including "intermediaries in third countries that are supplying Russia with critical inputs for its military."
Mexican President Claudia Sheinbaum has openly expressed her opposition to labeling migrant workers as criminals during a high-level meeting with U.S. Deputy Secretary of State Christopher Landau.
As G7 leaders prepare to meet, most member states are ready to cut the Russian oil price cap to $45 even without U.S. backing.
G7 finance leaders meeting in Canada pledged to tackle global imbalances and suggested tougher sanctions on Russia, while also taking aim at unfair economic practices widely attributed to China.
German Finance Minister Lars Klingbeil expressed hope that the G7 will issue a joint communique supporting Ukraine, despite tensions with the US over wording related to the conflict with Russia. Talks also continue on trade issues and sanctions.
Finance ministers from the G7 countries are meeting in Banff for a three-day summit to talk about major global issues, including support for Ukraine, trade tensions with China, and concerns over U.S. policy under President Donald Trump.
Türkiye’s President Recep Tayyip Erdogan speaks with U.S. President Donald Trump, offering Ankara’s support to prevent the escalation between Israel and Iran.
President Donald Trump held a large military parade in Washington on Saturday to mark the U.S. Army’s 250th anniversary and his 79th birthday.
On June 14, 2025, a group of protesters assembled outside the entrance to Baghdad's Green Zone, home to the US Embassy and key government institutions, to voice opposition to Israeli strikes on Iran.
Iran launches a new barrage of missiles and drones at Israel, triggering extensive Israeli counter-strikes on strategic sites. Impacts and casualties are reported in both nations.
The latest round of U.S.-Iran nuclear talks, scheduled for Sunday in Muscat, have been canceled. This development follows Iranian President Masoud Pezeshkian's explicit statement that Tehran refuses to negotiate as long as Israeli attacks persist.
Pakistan will begin its first freight train service to Russia from Lahore on June 22. The route is part of the INSTC and aims to connect Pakistan's rail network with Central Asia, establishing a new trade corridor via Iran, Turkmenistan, and Kazakhstan.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 8th, covering the latest developments you need to know.
Presidential candidate Miguel Uribe Turbay is in critical condition after being shot three times — including twice in the head — during a campaign event in Bogotá.
Israeli strikes have reportedly targeted areas near the residences of Iran’s Supreme Leader Ayatollah Ali Khamenei and President Masoud Pezeshkian, according to the New York Times, citing local witnesses.
Mexican President Claudia Sheinbaum has condemned U.S. immigration raids and National Guard deployment in Los Angeles, calling for reforms instead of enforcement.
Türkiye’s President Recep Tayyip Erdogan speaks with U.S. President Donald Trump, offering Ankara’s support to prevent the escalation between Israel and Iran.
On June 14, 2025, a group of protesters assembled outside the entrance to Baghdad's Green Zone, home to the US Embassy and key government institutions, to voice opposition to Israeli strikes on Iran.
Iran launches a new barrage of missiles and drones at Israel, triggering extensive Israeli counter-strikes on strategic sites. Impacts and casualties are reported in both nations.
Israeli Prime Minister Benjamin Netanyahu has issued a stark warning of more strikes targeting the Iranian regime, a declaration that comes as Iran confirms the death of a prominent security and foreign policy adviser.
President Recep Tayyip Erdogan warned that the cycle of violence sparked by Israel’s attacks on Iran threatens regional stability, urging Syria to avoid involvement during a phone call with Syrian President Ahmad al-Sharaa.
Türkiye’s President Recep Tayyip Erdogan speaks with U.S. President Donald Trump, offering Ankara’s support to prevent the escalation between Israel and Iran.
President Donald Trump held a large military parade in Washington on Saturday to mark the U.S. Army’s 250th anniversary and his 79th birthday.
On June 14, 2025, a group of protesters assembled outside the entrance to Baghdad's Green Zone, home to the US Embassy and key government institutions, to voice opposition to Israeli strikes on Iran.
Iran launches a new barrage of missiles and drones at Israel, triggering extensive Israeli counter-strikes on strategic sites. Impacts and casualties are reported in both nations.
The latest round of U.S.-Iran nuclear talks, scheduled for Sunday in Muscat, have been canceled. This development follows Iranian President Masoud Pezeshkian's explicit statement that Tehran refuses to negotiate as long as Israeli attacks persist.
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