U.S. Transfers $20 Billion Loan to Ukraine Backed by Russian Assets
Published On Dec 10, 2024, 4:03 PM
The Biden administration has transferred $20 billion to Ukraine as part of a $50 billion loan from the Group of 7 nations. This funding is expected to support Ukraine's economy during a time of uncertainty as President-elect Donald J. Trump prepares to take office. There are concerns that Republican leadership may reduce assistance to Ukraine compared to the current Democratic administration. The loan is backed by interest earned from frozen Russian assets, which aims to balance the financial support without adding to taxpayers' burdens in the U.S. and Europe.