German Chancellor Olaf Scholz reported that work on providing Ukraine with a $50 billion loan from the G7 countries is nearing completion.
It is also known that the United States has almost agreed to provide its share of the $50 billion loan.
$50 billion loan for Ukraine
Scholz emphasized that Germany, together with its partners, stands firmly on the side of Ukraine, Berlin and Helsinki are among those who support Kyiv the most.
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— And it is clear to both of us that we will continue this support, help protect the sovereignty and territorial integrity of Ukraine, — the Chancellor said before the start of talks in Berlin with Finnish President Alexander Stubb.
He stressed that Putin should not expect that the allies will leave Ukraine in the clear. In this context, he said that work on providing the $50 billion loan agreed upon by the G7 countries was nearing completion.
According to him, this should be a clear signal of long-term support.
US loan as part of $50 billion loan
Meanwhile, US Treasury Secretary Janet Yellen said that Washington had almost determined the amount of its contribution to the G7 initiative to provide Ukraine with a $50 billion loan.
— Speaking about the $50 billion loan that the G7 leaders agreed to provide to Ukraine… We are very close to finalizing the US portion of this loan, — Yellen said, adding that the agreement was 99% ready.
According to her, the US is still waiting for guarantees from the EU to introduce a longer-term sanctions regime to ensure that profits from Russian assets remain available.
The EU sanctions regime currently requires unanimous renewal every six months.
In September, Bloomberg reported, citing sources, that the US was ready to allocate up to $20 billion to Ukraine as part of a G7 loan that would be repaid using revenues from frozen Russian assets.
The publication's sources noted that even if the EU does not make any changes to the sanctions provisions against Russia, the US will still transfer funds, but in smaller size.
