US Will Reduce Loan Fund Assistance For Ukraine
JAKARTA - The United States plans to reduce support for Ukraine after disbursing the remaining G7 loans agreed during the Joe Biden administration.
This news was published by a report by Politico citing a European Union diplomat.
In 2024, G7 countries approved a loan of around US$50 billion for Ukraine using profits from frozen Russian assets.
Reported by ANTARA from Sputnik, Tuesday, December 9, according to estimates of RIA Novosti, as of December 2, around US$34.8 billion has been disbursed.
The European Commission is now encouraging EU member countries to take advantage of Russia's Central Bank assets to finance Ukraine's war efforts.
On November 8, Belgian news agency Belga reported around 140 billion euros (US$163 billion) of Russian funds could be used as a "reparation loan," which only Ukraine would need to pay if the country received compensation for material damage from Russia. But Belgium rejected the plan for fear of legal consequences.
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Since Russia launched military operations in Ukraine in 2022, the European Union and G7 countries have frozen nearly half of Russia's foreign exchange reserves worth around 300 billion euros.
About 200 billion of them are stored on European accounts, mainly in Euroclear, a Belgian-based securities storage agency.