The U.S. Treasury Department has announced a $20 billion loan to Ukraine, to be repaid using interest from frozen Russian assets.
“These funds – paid for by the windfall proceeds earned from Russia’s own immobilized assets – will provide Ukraine a critical infusion of support as it defends its country against an unprovoked war of aggression,” Treasury Secretary Janet Yellen [said](https://home.treasury.gov/news/press-releases/jy2744) in a statement.
The U.S. loan is part of a $50 billion aid package agreed upon by G7 nations at their June summit. In October, the European Council [approved](https://www.consilium.europa.eu/en/press/press-releases/2024/10/23/immobilised-assets-council-greenlights-up-to-35-billion-in-macro-financial-assistance-to-ukraine-and-new-loan-mechanism-implementing-g7-commitment/) a loan of up to 35 billion euros ($36.7 billion) for Ukraine, also backed by revenues from frozen Russian assets.
Since Russia’s full-scale invasion of Ukraine in 2022, Western nations have frozen more than $300 billion in Russian sovereign assets, most of which are held in Europe. Earlier this year, the European Union began transferring profits generated from these assets to Ukraine.