The United States is working to unlock a USD 50 billion loan for Ukraine, which will be repaid from future profits generated by frozen Russian sovereign assets, by the end of the year.
This was stated by U.S. Ambassador Bridget Brink in an interview with Forbes Ukraine, as reported by Ukrinform.
“We are working to unlock a USD 50 billion loan for Ukraine based on Russian sovereign assets. We believe this can be achieved in collaboration with Europeans and other partners by the end of the year,” the U.S. Ambassador said.
According to Brink, if successful, “this will open up a significant amount of funds.”
She added that future financing will require certain steps, especially considering the upcoming elections in the U.S., and that reaching this decision will take time.
Brink also noted that despite potential challenges, she does not foresee a decrease in the strong bipartisan support for Ukraine, which includes both chambers of Congress and broad public backing.
As previously reported, on June 14 at the G7 summit in Italy, G7 leaders agreed to direct around USD 50 billion to Ukraine. The funds are expected to be serviced and repaid using future profits from frozen Russian sovereign assets located in the EU and other jurisdictions.
According to this plan, the U.S. and the EU would each contribute around USD 20 billion, while the remaining USD 10 billion would be shared by the UK, Japan, and Canada.
However, the U.S. has required guarantees to ensure a stable income stream to service the loan, demanding that Russian assets, most of which are in Europe, remain frozen indefinitely through continued EU sanctions against Moscow.
Source: U.S. working to unlock USD 50B for Ukraine from Russian assets – Brink
