G7 Approves $50 Billion Loan for Ukraine Using Frozen Russian Assets

The unprecedented financial package aims to support Ukraine's defense and reconstruction without burdening G7 taxpayers.

• The G7 nations have agreed to a $50 billion loan for Ukraine, secured by interest from frozen Russian central bank assets.
• The United States will contribute $20 billion, with the remaining $30 billion provided by the EU, UK, Canada, and Japan.
• The initiative prevents direct taxpayer funding by using profits from approximately $260 billion in immobilized Russian assets.
• The decision comes amid resistance from Hungary regarding EU sanction renewals, which are crucial for maintaining the asset freeze.
• Russian President Vladimir Putin has condemned the move as theft, warning of potential retaliation against the G7's actions.

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