The US may provide Ukraine with $20 billion under the G7 loan

The United States is ready to provide Ukraine with up to $20 billion as part of a $50 billion loan from the Group of Seven, which will be repaid from the proceeds of frozen russian assets in Europe. 

Negotiations on the structure of the loan totaling $50 billion have been ongoing since June. It is not yet known how the countries will divide their shares in this loan. The amount of 20 billion was reported as the maximum contribution that the United States could make. But Washington postponed the final decision because Brussels could not guarantee that sanctions against russian assets would last at least another three years due to a possible veto by Hungary.

Nevertheless, U.S. officials told their G7 counterparts that Washington is ready to agree to provide $20 billion, which is 40% of the total loan. This decision is likely related to the US presidential election. Experts believe that Joe Biden's administration made this decision because of fears that if Donald Trump wins, aid to Ukraine could be cut.

Sources told the Financial Times that a final agreement has not yet been reached, and the US continues to consult with Congress and Ukraine on how the loan will be repaid. Finance ministers of the Group of Seven countries will meet in Washington on October 25 for meetings of the IMF and the World Bank, where they are expected to announce details on the distribution of the loan.

The US Treasury Department declined to comment.

Source: Financial Times