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."
U.S. President Donald Trump said on Monday that there is a good chance” of reaching a deal with Iran, but warned that Washington would resume milita...
Prime Minister Burnham and President Volodymyr Zelenskyy visited a Royal Navy base in Portsmouth, where they met British and Ukrainian troops taking p...
Russia's Supreme Court has prohibited the transfer of funds to Digimarket, a U.S.$35 million offshore company linked to Ruben Vardanyan, as legal proc...
Iran will halt its own attacks as long as the United States maintains its pause on strikes, but Tehran remains sceptical of U.S. intentions, a senior Iranian source told on Sunday.
U.S. President Donald Trump said on Monday that there is a good chance” of reaching a deal with Iran, but warned that Washington would resume military operation if negotiations fail.
A New York school district has put plans to introduce a humanoid robot into classrooms on hold after fierce criticism from teachers, Indigenous community members and state education officials over the use of artificial intelligence in schools.
A known Islamist suspected of driving a minivan into a crowd near a major LGBTQ Pride gathering in Berlin was shot dead during a police operation at an allotment garden complex, broadcaster RBB reported on Sunday.
Kazakhstan's President Kassym-Jomart Tokayev called on Saturday for Russia and Ukraine to freeze the conflict and return to peace talks, saying a negotiated settlement remained possible despite the entrenched positions of both sides.
Prime Minister Burnham and President Volodymyr Zelenskyy visited a Royal Navy base in Portsmouth, where they met British and Ukrainian troops taking part in Exercise Sea Breeze. The visit underscored Britain's commitment to supporting Ukraine as the war with Russia continues.
A known Islamist suspected of driving a minivan into a crowd near a major LGBTQ Pride gathering in Berlin was shot dead during a police operation at an allotment garden complex, broadcaster RBB reported on Sunday.
Russian President Vladimir Putin has signed laws introducing stricter financial requirements for foreign workers, as Moscow continues to tighten migration controls affecting millions of labour migrants, particularly from Central Asia.
The number of confirmed Ebola cases in the Democratic Republic of Congo has risen to 3,200, including 1,405 deaths, according to government data released on Sunday, highlighting the scale of an outbreak that continues to challenge health authorities and aid agencies.
The 27 July edition of Daybreak covers a pause in fighting between the U.S. and Iran, the latest developments in Russia's war against Ukraine, and mass evacuations as wildfires continue to spread across France and Spain.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment