Reported 7 months ago
On the first day of the Group of Seven (G7) Summit, the US announced along with other G7 members to provide a $500 billion loan to Kyiv, utilizing the interest revenue from frozen Russian assets in Western financial institutions to repay Western allies. This announcement coincided with US President Biden meeting with other G7 leaders at the Borgo Egnazia resort in Italy. The US aims to pre-fund Ukraine with Western allies and use $280 billion of frozen Russian assets' interest income to repay the loan, generating an annual interest income of $30 billion or more, with Ukraine's President Zelenskyy supporting the agreement. A separate bilateral security agreement was signed between Biden and Zelenskyy during the summit, outlining US support for Ukraine in defense capabilities, combat sustainability, and maintaining peace within the framework of international law.
Source: YAHOO