This amount could be provided as part of a wider $50 billion loan from the G7, which would be covered by proceeds from Russia’s fixed assets.
The United States is ready to provide up to $20 billion to Ukraine as part of a loan from the G7, to be repaid with revenues from Russian fixed assets. But no final decision has been made yet, the Financial Times reported on Saturday, October 19, citing three sources.
According to the publication, negotiations on granting loans to Ukraine have accelerated because Western officials want to provide financing to Kyiv until the end of 2024. They fear that Donald Trump may return to power in the United States, and then Washington’s aid to Ukraine may be suspended.
The G7 countries are in several months of negotiations on a $50 billion loan structure agreed on in June 2024. The Financial Times writes that a smaller portion of the loan is expected from Washington because the European Union cannot guarantee that the Russian assets will remain inactive for at least three years.
According to the publication’s sources, American officials told their G7 colleagues on October 18 that Washington will provide the entire initial amount – about $20 billion. This will be possible, they say, even if the EU fails to persuade Hungarian Prime Minister Viktor Orban to withdraw his veto on expanding EU sanctions – a condition demanded by Washington.
G7 finance ministers are expected to gather in Washington on October 25 on the sidelines of the IMF and World Bank meetings, where they will issue a statement on the allocation and structure of the loan, two of the sources said. Hungarian Prime Minister Viktor Orban vetoed the extension of sanctions against the Russian Federation and called on the warring parties to “sit at the negotiating table.”
Another source added that “a final agreement has not yet been reached, and the US is still consulting with members of Congress and Ukraine on how to repay the debt.” Great Britain, Canada and Japan intend to provide the remaining debt of $50 billion, the newspaper wrote.
Earlier it was reported that the EU ambassadors agreed to give Ukraine a loan in the amount of 35 billion euros, which will be paid with fixed assets of Russia.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.