US Treasury Secretary Janet Yellen announced on Tuesday, October 21, that the G7 and European Union (UN) are “very close” to finalizing a $50 billion loan for Ukraine.
As per Reuters, this loan will be supported by frozen Russian assets, with the US likely to contribute around $20 billion.
She said, “We're very close to finalizing America's portion of this $50 billion loan package.”
When asked about the ongoing final talks for the loan, Yelen said, "We're very close to finalizing America's portion of this $50 billion loan package.”
She assured that the US contributions to the loan would be paid from the earnings of Russian assets and not by US taxpayers.
Yelen further revealed that the US is set to unveil strong new sanctions soon including "intermediaries in third countries that are supplying Russia with critical inputs for its military."
Earlier, the US announced major military aid for Ukraine on Monday, October 21.
US Defence Secretary Lloyd Austin announced $400 million aid package during his Kyiv visit.
During a speech, he said, "We should all understand that Putin's assault is a warning. It is a sneak preview of a world built by tyrants and thugs — a chaotic, violent world carved into spheres of influence."
He further added, "I've seen bipartisan support for Ukraine over the last 2-1/2 years, and I fully expect that we'll continue to see the bipartisan support from Congress."
