US Allies Agree on $50 Loan To Ukraine From Russian Assets

The G7 countries have agreed to loan $50 billion to Ukraine from Russian assets it seized after the latter invaded its western neighbor in 2022.

In response to the historic loan, the Kremlin has said that the loan amounts to theft and it would not go unpunished as Russian assets were used without its consent. 

Money Will Not Arrive Now

During a speech, the US President Joe Biden said the loan meant that the West will not back down from supporting Ukraine in its fight for freedom.

The loan money will not arrive until the end of this year, keeping Ukraine’s long term and strategic economic and welfare needs in mind. 

Russia Terms It A Theft

In response to the latest developments, the Russian President Vladamir Putin said that giving away Russian assets like that is a theft.

A day after the decision was announced, Putin said the move was against the International law and it will not go unpunished.

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