G7 is finalizing $50B loan to Ukraine
A $50 billion loan to Ukraine from the G7 major industrialized nations is moving forward after months of negotiations, with countries announcing their contributions to the package this week. The loan package is aimed at providing Ukraine with an economic lifeline from $280 billion worth of Russian assets frozen since Russia invaded Ukraine in February 2022. According to the plan, the loan will be repaid with interest accumulating on the frozen Russian assets rather than confiscating the frozen assets themselves. This “creative” solution is intended to provide Ukraine with the economic assistance it urgently needs “without burdening American taxpayers,” U.S. …