Blinken confirms Ukraine to receive $50 billion transfer from frozen Russian assets
U.S. Secretary of State Antony Blinken confirmed during a briefing that the transfer is part of a coordinated effort between the U.S. and EU to support Ukraine.
Russian assets
Ukraine, EU sign agreement on up to 35 billion euro loan covered by Russian assets revenue
Ukraine's Finance Ministry and the EU signed a memorandum and an agreement to attract up to 35 billion euros ($36.7 billion) as part of the G7 loan, the ministry said on Dec. 4.
Frozen Russian assets face uncertain future under Trump
There are some $4-5 billion of frozen Russian assets in the U.S. and it will be up to President-elect Donald Trump to decide what to do with them when he takes office in January 2025. After Russia’s full-scale invasion of Ukraine, Western nations froze around $300 billion of
G7 to provide Ukraine $50 billion in loans backed by frozen Russian assets
"Our aim is to begin disbursing the funds by the end of the year," G7 leaders announced on Oct. 25. The loan will support Ukraine's economic, defense, and reconstruction needs.
US to provide $20 billion loan to Ukraine as part of G7 pledge
Daleep Singh, the White House deputy national security adviser on international economics, said that Joe Biden's administration intends to split the funds between helping the Ukrainian economy and the military.
G7 plans to keep Russian assets frozen after war in Ukraine ends, Nikkei reports
G7 leaders will issue a joint statement in October saying that "Russia's sovereign assets will remain immobilized until Russia ends its aggression and pays for the damage it has caused to Ukraine," according to the draft prepared by this year's chair, Italy.
UK to provide Ukraine with $2.9 billion military loan, to be repaid with proceeds from frozen Russian assets
The loan will be allocated to Ukraine's military spendings. Kyiv will be able to invest in key equipment to fight Russia, such as artillery, air defense, and wider equipment support.
European Council says Russian assets should remain frozen until end of war, payment of reparations
The European Council reiterated it would adhere to the "security and defense policy" of "certain member states" regarding the use of revenues generated from the frozen assets, and added it would continue to "address all relevant legal and financial aspects."
EU allocates over $100 million from Russian frozen assets to support Ukraine in winter
"Russia must pay for the destruction it caused," von der Leyen said.
Russian oligarchs, financial company lose appeal against EU sanctions
Russian oligarchs Gennady Timchenko and Mikhail Fridman and Russia's National Settlement Depository on Sept. 11 lost their appeal against EU sanctions imposed against them.
Czechia to use frozen Russian assets profits to fund ammunition for Ukraine
"This is another evidence of the allied trust in Czechia and our ammunition initiative. It is a unique opportunity to support Ukraine while using assets originally belonging to Russia and saving on public finances of European countries," Czech Defense Minister Jana Cernochova said.
Germany likely won't approve additional military aid to Ukraine this year, media reports
According to FAZ, Ukraine will receive previously approved assistance, but additional requests from the German Defense Ministry will not be supported.
EU transfers Ukraine $1.6 billion of proceeds from frozen Russian assets
"There is no better symbol or use for the Kremlin's money than to make Ukraine and all of Europe a safer place to live," said European Commission President Ursula von der Leyen.
G7 to finalize plan by October on $50 billion loan for Ukraine backed by Russian assets revenue
The Group of Seven (G7) will likely finalize a framework agreement for a $50 billion loan for Ukraine backed by frozen Russian assets revenue by October, EU Economic Commissioner Paolo Gentiloni said on July 25.
Ukraine to receive $1.5 billion in frozen Russian assets in August, Borrell says
The European Union's top diplomat, Josep Borrell, announced on July 22 that Ukraine is expected to receive the first transfer of $1.5 billion in payments from Russian frozen assets at the beginning of August.
Japan to reportedly cover $3.3 billion of G7 loan to Ukraine
The sum, which Ukraine hopes to receive by the end of the year before a potential return of Donald Trump to the White House, includes a $20-billion pledge by the U.S. and the EU each, Kyodo News wrote.
Saudi Arabia issued vague threats to G7 against seizing frozen Russian assets, Bloomberg reports
Saudi officials reportedly made "veiled threats" to Group of Seven (G7) nations hinting that the kingdom would sell some European debt holdings if Western allies seized about $300 billion in frozen Russian assets, Bloomberg reported on July 9, citing its sources.
Polish foreign minister proposes seizing $321 billion in frozen Russian assets
"We need to re-learn how to champion the escalation game," Sikorsky said during a lecture at the Ditchley Foundation in the U.K. "(Russian dictator Vladimir) Putin has already written them (the frozen assets) off, he does not expect to get them back. But he also doesn’t think we have the fortitude to take hold of them either. So far, we have proven him right."
Ukraine to receive profits from Russia's frozen assets in 2 tranches starting next week, Borrell says
"We have a process in order to make this work quickly. The first tranche of money will come next week, in July. The second will come some months later," Josep Borrell said during the press briefing in Luxembourg.
EU devises workaround for possible Hungary veto of funds for Ukraine, FT reports
The EU has developed a legal workaround to prevent Hungary vetoing a move to use profits from frozen Russian assets to aid Ukraine, the Financial Times reported on June 24.
EU to start transfer of profits from frozen Russian assets 'before summer break,' EU official says
Ukraine will receive the first payment of 1.5 billion euros ($1.6 billion) from the profits of Russian assets frozen in the EU "before the summer break," EU Trade Commissioner Valdis Dombrovskis said on June 21.
Ukraine Business Roundup — Russian assets for Ukraine
The following is the June 19, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. The Group of Seven (G7) leaders confirmed on June 13 a plan to provide Ukraine with a $50
G7 loan from Russian assets not ‘substitute for full confiscation,’ experts say
The new Group of Seven (G7) plan to fund Ukraine using profits from frozen Russian assets is a “breakthrough,” but Ukraine’s goal is still to seize the full worth of the assets, said experts speaking at a panel event in Kyiv discussing Russian asset seizure on June 17. “This
Opinion: Why arguments against using Russian assets for Ukraine don't hold water
If Ukraine is going to defeat Russia and rebuild itself after the war, it will need huge sums of money, probably exceeding what Western electorates and politicians are willing or able to provide. The good news is that there is a massive pot of non-Western money already available: the $300
G7 confirms agreement on $50 billion loan for Ukraine backed by Russian assets revenue
The loan should be repaid using interest from some $300 billion in frozen Russian assets.
Zelensky at G7 summit: We need mechanism for confiscating $300 billion in Russian assets
"We need to make the states that support terror understand that they will pay for it," President Volodymyr Zelensky said on June 13 during a G7 summit in Italy.
G7 agrees on transfer of $50 billion in profits from frozen Russian assets to Ukraine
"We have an agreement," a French presidency official said, ahead of a summit in Italy, which starts on June 13.
Media: G7 to create Ukraine aid fund using income from frozen Russian assets
A final agreement on the issue is expected at a G7 summit in Apulia, Italy, on June 13-15, which President Volodymyr Zelensky will attend.
Von der Leyen: Ukraine to receive 3.4 billion euros from EU this summer
Ukraine will receive 1.5 billion euros ($1.6 billion) in Russian frozen assets revenue in July and 1.9 billion euros ($2 billion) under the Ukraine Facility already this month, European Commission President Ursula von der Leyen said on June 11.
Biden, Macron reach agreement on using profits from frozen Russian assets for Ukraine
U.S. President Joe Biden announced on June 9 that he had reached an agreement with French President Emmanuel Macron on using the profits from frozen Russian assets to support Ukraine, Radio Free Europe/Radio Liberty (RFE/RL) reported.
AFP: Still no G7 consensus over using frozen Russian assets for Ukraine
According to AFP, the U.S. is pushing the G7 to endorse a loan for Ukraine of up to $50 billion, secured by interest on the frozen assets.
FT: US proposes $50 billion Ukraine loan conditional on EU extending sanctions against Russia until end of war
The U.S. has proposed that a $50 billion loan to Ukraine could be repaid by profits from frozen Russian assets, on the condition that the EU agrees to extend sanctions against Russia until the end of the war, the Financial Times reported on June 5, citing a leaked EU discussion paper.
(Updated: )
