US pushes for $50 billion loan to Ukraine using frozen Russian assets ahead of G7 summit

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US pushes for $50 billion loan to Ukraine using frozen Russian assets ahead of G7 summit
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US officials are racing against the clock to finalize an agreement that could provide some $50 billion in loans to Ukraine using profits from frozen Russian assets – a top priority ahead of President Joe Biden’s meeting with G7 leaders in Italy this week – but the seven nations have yet to reach a final consensus, according to sources familiar...

US officials are racing against the clock to finalize an agreement that could provide some $50 billion in loans to Ukraine using profits from frozen Russian assets – a top priority ahead of President Joe Biden’s meeting with G7 leaders in Italy this week – but the seven nations have yet to reach a final consensus, according to sources familiar with the US’s preparation ahead of the summit.

The world’s richest economies coming together behind such a plan would send a stark message to Russian leader Vladimir Putin, US officials say, that Russia will not outlast the US and its allies’ continued support for Ukraine. “This is a priority for the United States. We believe it’s a priority for the entire G7,” Biden’s national security adviser Jake Sullivan told reporters last week.

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