{"id":1497,"date":"2024-10-19T20:11:55","date_gmt":"2024-10-19T14:41:55","guid":{"rendered":"https:\/\/ainews.prativad.com\/index.php\/us-to-pay-20-billion-into-loan-for-ukraine-ft\/"},"modified":"2024-10-19T20:11:55","modified_gmt":"2024-10-19T14:41:55","slug":"us-to-pay-20-billion-into-loan-for-ukraine-ft","status":"publish","type":"post","link":"https:\/\/ainews.prativad.com\/index.php\/us-to-pay-20-billion-into-loan-for-ukraine-ft\/","title":{"rendered":"US to pay $20 billion into loan for Ukraine \u2013 FT"},"content":{"rendered":"
<\/div>

The contribution will be repaid using profits generated by Moscow\u2019s frozen assets, the paper reports<\/strong><\/p>\n

The US is set to provide up to $20 billion to Ukraine as part of a G7 loan, which will then be repaid using proceeds generated by the Russian assets immobilized by the West as part of Ukraine-related sanctions, Financial Times has reported, citing sources.<\/p>\n

Kiev\u2019s backers have been trying to accelerate negotiations over the loan in an effort to secure funding to Ukraine before the end of the year, due to mounting concern that Washington\u2019s aid to the country could be cut off if Donald Trump wins the upcoming US election, FT noted, in an article posted on Friday. The former US president has repeatedly threatened to scale back assistance to Kiev if he were elected.<\/p>\n

The US and its allies have frozen an estimated $300 billion in assets belonging to the Russian state after the Ukraine conflict broke out in 2022. The bulk of the money, nearly \u20ac197 billion ($214 billion) is being held by Brussels-based clearinghouse Euroclear. The immobilized funds have generated \u20ac3.4 billion ($3.7 billion) in interest as of mid-July, according to the depository.<\/p>\n

Moscow has denounced the freeze as \u201ctheft\u201d<\/em> and said that any seizure of its funds would be against the law and would further undermine global trust in the Western financial system.<\/p>\n

In June, G7 members agreed to grant Kiev a $50 billion loan to be financed by interest from the frozen Russian assets. The US and the EU were initially expected to provide $20 billion each as Canada, Japan and the UK were set to jointly lend the rest of the massive loan.<\/p>\n

Read more<\/strong><\/span><\/p>\n

EU country opposes extending freeze of Russian assets<\/a><\/p>\n

Later, to reassure allies that the bloc\u2019s sanctions regime on the funds is not lifted, Brussels proposed a three-year extension of the EU\u2019s mandate to freeze Russian assets. EU lawmakers have been renewing their sanctions every six months by unanimous decision, meaning that each vote may bring about a break in restrictions. Hungary opposed the proposal, and announced plans to postpone the decision until the US presidential elections on November 5.<\/p>\n

Last week, the EU approved its own contribution of up to \u20ac35 billion to the G7 loan, but the bloc would need to contribute less if Washington provided the full $20 billion, Reuters reported last week. The funds, which will be managed by the World Bank, will be used for several purposes, including defense or humanitarian needs.<\/p>\n\n

US senior officials, however, told FT that Washington would provide the full agreed $20 billion, even if the EU failed to convince Hungary\u2019s premier Viktor Orban to drop his veto on extending EU sanctions, which had previously been voiced among the US demands. According to two sources cited by the paper, G7 finance ministers will make a statement on the distribution and structure of the loan on the sidelines of the IMF and World Bank meetings on October 25.<\/p>","protected":false},"excerpt":{"rendered":"

The US is reportedly ready to send Ukraine $20 billion as part of a G7 loan, which it will recoup using profits from frozen Russian funds Read Full Article at RT.com<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news"],"yoast_head":"\nUS to pay $20 billion into loan for Ukraine \u2013 FT - Leading the AI News Frontier<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ainews.prativad.com\/index.php\/us-to-pay-20-billion-into-loan-for-ukraine-ft\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US to pay $20 billion into loan for Ukraine \u2013 FT - 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