Trump administration will not affect US$20 billion loan to Ukraine – US Treasury
US Treasury Secretary Janet Yellen believes that Donald Trump's future administration will not change the US$20 billion loan granted to Ukraine, which will be paid at the expense of the proceeds from frozen Russian assets, and that the loan does not involve the use of American taxpayer funds.
US Treasury Secretary Janet Yellen believes that Donald Trump's future administration will not change the US$20 billion loan granted to Ukraine, which will be paid at the expense of the proceeds from frozen Russian assets, and that the loan does not involve the use of American taxpayer funds.
Source: Yellen in an interview with Bloomberg TV, as reported by European Pravda
Quote: "These loans will be paid off over time by the extraordinary windfall revenues that are being earned in Europe at Euroclear on the Russian assets that are being frozen there."
As a result, she believes that in this way Russia is literally assisting Ukraine in its military efforts.
"So I feel confident that this [loan - ed.] is something that can stay in place," Yellen added.
"And what we’re really trying to do is to strengthen Ukraine’s situation, its ability to defend itself, and, hopefully, at some point to come to the table to bargain with Russia for a just peace," she said.
Background:
- On 10 December, the US Department of the Treasury announced the allocation of US$20 billion for Ukraine as part of the G7 initiative to utilise frozen Russian assets.
- This is part of the G7 plan to provide Ukraine with €50 billion using Russian assets. The funds will formally be provided as loans but will be repaid through a tax on excess profits derived from frozen Russian assets.
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