US finalises $20 billion loan to Ukraine, backed by frozen Russian assets

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Asked if Britain would allow Ukraine to use the money to buy British-made Storm Shadow missiles to hit targets deep inside Russia, Healey told reporters: "They are developing very heavily the use of even longer-range drones.

The loan plan was endorsed by G7 leaders in Italy in June, but was delayed by US officials' insistence on assurances that the Russian assets would stay frozen long-term to provide a certain stream of repayment revenues.

Britain separately announced it would contribute $2.26 billion pounds ($2.94 billion) into the G7 loan, saying its funds would help Ukraine buy weapons and rebuild damaged infrastructure.

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Category: BusinessFinance

Markets: IndiaCanadaFranceGermanyHungaryItalyJapanUkraine

Topics: Biden administration Ukraine loan G7 support International relations Economic assistance Military aid Frozen assets US Treasury

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-24 @ 09:41:45 (1 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 887 words

Reading Time: 5 minutes read

Sentences: 26 lines

Sentence Length: 35 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23219516

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