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."
Zelenskyy and Canada’s new PM Mark Carney discussed military aid, sanctions on Russia, and defence cooperation, highlighting stronger ties and Ukraine’s role in Canada’s G7 agenda.
The G7 countries reaffirmed their support for Ukraine's territorial integrity and sovereignty. They positively assessed the meeting between the US and Ukraine held on March 11 in Saudi Arabia, emphasizing the importance of a ceasefire.
Foreign ministers from the world’s leading democracies meet in Canada to navigate rising tensions with the U.S., as Trump’s policies on Ukraine, tariffs, and Russia spark divisions. Diplomats seek common ground while confronting Washington's unpredictability.
Ukraine has received the first installment of 2.5 billion Canadian dollars (approximately $1.7 billion) from Ottawa under the G7's Extraordinary Revenue Acceleration (ERA) initiative, the Ukrainian Finance Ministry announced on March 13.
Poland has submitted a judicial reform plan to European legal experts, aiming to reverse PiS-era changes criticized by the EU and unlock frozen funds. The move comes ahead of presidential elections, with a Tusk-backed candidate leading in polls.
The U.S. has proposed a final peace framework to end the Russia-Ukraine war, offering a ceasefire, territorial compromises, security guarantees for Ukraine, and renewed economic ties with Russia, according to talks held in Paris.
Russia and Iran have signaled their commitment to deepen energy cooperation by working on new overland gas corridors, according to a statement from the Russian Cabinet.
Pakistan shut the Wagah border, expelled Indian defence attachés and warned of war over water on Friday after rejecting India’s move to suspend the Indus Waters Treaty.
Citing sustained cross-border terrorism and a recent deadly attack in Jammu and Kashmir, India has decided to suspend the Indus Waters Treaty with Pakistan, a decision that marks a significant shift in regional water diplomacy.
China has rolled out the world’s first 10-gigabit (10G) fixed broadband network in Xiong'an New Area, promising ultra-fast speeds and low latency through cutting-edge optical infrastructure.
The Holy Fire ceremony stands as one of Christianity's most enduring and mysterious rituals, drawing thousands of pilgrims to Jerusalem each year.
Pope Francis's relationship with Azerbaijan has evolved significantly over the years, characterized by diplomatic exchanges, promotion of religious tolerance, and peace advocacy in the Caucasus region.
Russia launched a major missile and drone assault on Kyiv overnight on April 24, killing at least twelve people and injuring 90, including children and a pregnant woman, according to Mayor Vitali Klitschko.
China’s pivot away from U.S. liquefied petroleum gas under new tariffs is shaking global energy flows, slashing demand, and fuelling a scramble for alternatives across Asia, with Middle Eastern suppliers and rival buyers seizing the moment.
Poland has submitted a judicial reform plan to European legal experts, aiming to reverse PiS-era changes criticized by the EU and unlock frozen funds. The move comes ahead of presidential elections, with a Tusk-backed candidate leading in polls.
The U.S. has proposed a final peace framework to end the Russia-Ukraine war, offering a ceasefire, territorial compromises, security guarantees for Ukraine, and renewed economic ties with Russia, according to talks held in Paris.
Pakistan shut the Wagah border, expelled Indian defence attachés and warned of war over water on Friday after rejecting India’s move to suspend the Indus Waters Treaty.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 25th, covering the latest developments you need to know.
Russia said its air defences shot down 87 Ukrainian drones over four border regions early Thursday, while simultaneous missile-and-drone strikes on Kyiv left at least 12 people dead and more than 100 injured.
Poland has submitted a judicial reform plan to European legal experts, aiming to reverse PiS-era changes criticized by the EU and unlock frozen funds. The move comes ahead of presidential elections, with a Tusk-backed candidate leading in polls.
The U.S. has proposed a final peace framework to end the Russia-Ukraine war, offering a ceasefire, territorial compromises, security guarantees for Ukraine, and renewed economic ties with Russia, according to talks held in Paris.
Russia and Iran have signaled their commitment to deepen energy cooperation by working on new overland gas corridors, according to a statement from the Russian Cabinet.
Pakistan shut the Wagah border, expelled Indian defence attachés and warned of war over water on Friday after rejecting India’s move to suspend the Indus Waters Treaty.
Citing sustained cross-border terrorism and a recent deadly attack in Jammu and Kashmir, India has decided to suspend the Indus Waters Treaty with Pakistan, a decision that marks a significant shift in regional water diplomacy.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment