U.S. gives Ukraine billions using frozen Russian money
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The United States has confirmed a $20 billion aid package for Ukraine, funded through proceeds from frozen Russian assets. This allocation is part of a broader $50 billion G7 support initiative, announced just weeks before President Joe Biden’s departure from office.
The timing of this financial assistance proves significant as President-elect Donald Trump has expressed his desire for an immediate resolution to the conflict, rather than continuing to fund ongoing military operations.
UKRAINE: Biden figured out another way to funnel taxpayer money to Zelensky – a $20 billion loan secured by future profits from frozen Russian assets. I have doubts the loan will ever be repaid. This is a massive amount of cash we DON'T have. Period. pic.twitter.com/dEX5gG7TaD
— @amuse (@amuse) December 10, 2024
Trump’s stance on Ukrainian aid has grown increasingly skeptical since Russia’s 2022 invasion, with recent statements suggesting potential reductions in support to Kyiv.
“These funds — paid for by the windfall proceeds earned from Russia’s own immobilized assets — will provide Ukraine a critical infusion of support as it defends its country against an unprovoked war of aggression,” U.S. Treasury Secretary Janet Yellen said in a statement.
She further noted that the G7’s financial support “will help ensure Ukraine has the resources it needs to sustain emergency services, hospitals and other foundations of its brave resistance.”
Ukrainian President Volodymyr Zelensky expressed profound gratitude for the aid, describing it as “a powerful act of justice.” He emphasized that this support “will strengthen Ukraine’s defense and help protect our sovereignty and people against unprovoked aggression.”
Just in, the United States to provide a $20 Billion dollar Loan to Ukraine, to be repaid with funds earned by seizing Russian Assets.
Meanwhile the United States can't commit any money to provide additional aid and help to North Carolina as well as Hawaii. pic.twitter.com/9dIivJpJNe
— Malcolm FleX (@Malcolm_fleX48) December 10, 2024
The Treasury Department confirmed the transfer of $20 billion to the World Bank, which will distribute the funds to Ukraine through an existing mechanism.
This financial boost arrives at a crucial moment for Ukrainian forces, who have recently experienced territorial losses. Russian forces have made advances in eastern Ukraine and in the Kursk region, where Ukrainian troops previously launched a summer offensive, while reports from Ukrainian soldiers paint concerning pictures of frontline conditions.
