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US says it will front up to $50 billion for Ukraine using Russian frozen assets

Posted on AllSides June 13th, 2024
From The Center

The United States said Thursday it and other G7 members will provide Kyiv with a loan of up to $50 billion that will be paid back to Western allies using interest income from Russian assets frozen in Western financial institutions.

The announcement came as President Joe Biden meets with leaders of the Group of Seven wealthy democracies Thursday at the luxury resort of Borgo Egnazia in Puglia, Italy, on the first day of their summit.

Biden has been pushing G7 leaders to agree to his plan for Western allies to...

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