The US finalized its $20 billion portion of a long-awaited $50 billion loan to Ukraine backed by frozen Russian assets
The US finalized its $20 billion portion of a long-awaited $50 billion loan to Ukraine backed by frozen Russian assets, announcing plans to start making funds available by year-end for economic and military aid.
US Treasury Secretary Janet Yellen and Ukrainian Finance Minister Serhiy Marchenko signed an agreement for a US loan commitment of $20 billion, which would be placed alongside a separate $20 billion European Union commitment and $10 billion to be split by G7 allies Britain, Japan and Canada.
The loan will be repaid with the earnings from the over $300 billion in sovereign Russian assets that have been immobilized since Moscow's armies invaded Ukraine in February 2022. The funds are mostly held in Europe.
"In other words, Ukraine can receive the assistance it needs now, without burdening taxpayers," President Joe Biden said in a statement.
The Biden administration wants to make $10 billion of the loan funds available for military aid, a plan that would require the approval of the US Congress, White House National Security Council officials told reporters.
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Start your day informed with AnewZ Morning Briefing: here are the top news stories for January 18th, covering the latest developments you need to know.
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TikTok CEO Shou Zi Chew thanked President-elect Trump for his efforts to save the app in the U.S., as a January 19 deadline looms for ByteDance to sell or shut it down.
Brazil announces Nigeria's acceptance as a partner country in BRICS, highlighting shared interests and Nigeria's growing role in global governance and the Global South.
Start your day informed with AnewZ Morning Briefing: here are the top news stories for January 18th, covering the latest developments you need to know.
Thousands in Belgrade held a silent protest outside RTS, honouring victims of a roof collapse. University students demanded justice for the tragedy, blaming Serbian authorities.
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TikTok CEO Shou Zi Chew thanked President-elect Trump for his efforts to save the app in the U.S., as a January 19 deadline looms for ByteDance to sell or shut it down.
The World Bank confirms Kazakhstan's GDP growth forecast at 4.7% for 2025 and 3.5% for 2026, with oil production driving recovery.
Brazil announces Nigeria's acceptance as a partner country in BRICS, highlighting shared interests and Nigeria's growing role in global governance and the Global South.
Start your day informed with AnewZ Morning Briefing: here are the top news stories for January 18th, covering the latest developments you need to know.
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