Home » Business » G7 and EU lend Ukraine 69 trillion won using Russia’s frozen assets… Executed within the year|Dong-A Ilbo

G7 and EU lend Ukraine 69 trillion won using Russia’s frozen assets… Executed within the year|Dong-A Ilbo

The United States takes charge of $20 billion, and the remaining G7 and EU provide $30 billion.
Loan repayment funds raised through profits from Russian frozen assets

AP Newsis While the G7 and the European Union (EU) decided to use Russia’s frozen assets to provide Ukraine with a loan worth 69 trillion won, the United States decided to take responsibility for 40% of the loan funds.

A senior U.S. government official said in an online briefing on the 23rd (local time), “Today, we announced that the United States will provide $20 billion in loans out of the $50 billion (approximately KRW 69 trillion) promised by the G7, and the remaining $30 billion will be provided to the EU, the UK, Canada, and the EU. “We are announcing that G7 partners, including Japan, plan to prepare it together,” he said.

At the G7 summit last June, the United States proposed providing $50 billion in loans to Ukraine using frozen Russian state-owned assets. The plan was to have Russia directly compensate for the damage it caused to Ukraine.

A senior U.S. government official explained, “Funds for repaying these loans will be raised through Russian frozen assets held by the EU.”

The United States plans to provide $10 billion of the $20 billion for military support and $10 billion for economic support. However, it is said that loans for military support require congressional action, so there is a possibility that they will be used entirely for economic support.

The official said, “The United States will now sign an agreement to cooperate with Ukraine to implement the loan and begin disbursing funds for Ukraine’s benefit within this year.”

The European Council also approved a loan worth up to 35 billion euros (52.17 trillion won) to Ukraine the day before and began preparing for loans.

The UK and Canada announced that they would lend Ukraine $3 billion and $3.6 billion, respectively.

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