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RIO DE JANEIRO, July 26 - U.S. Treasury Secretary Janet Yellen told Reuters on Friday that"things look good" for Group of Seven wealthy democracies to agree the terms of a $50 billion loan to Ukraine backed by Russian assets by October.
The $50 billion loan, agreed in principle by G7 leaders in June, would be serviced with proceeds generated by some $300 billion of Russian central bank assets frozen in the West after Moscow invaded Ukraine in early 2022. "We need assurances that make it clear that American taxpayers are not going to be on the hook to pay off these loans. And we want to make sure it satisfies the budget scorers that these assets will be the source of repayment for these loans."
U.S. officials say this raises risks for the stability of the revenue, making it vulnerable to disagreements among the 27 EU governments.The EU is now considering an open-ended agreement on the freezing of the Russian central bank assets, with a change possible during annual reviews only if the Russian aggression ends and there are assurances of compensation by Russia.
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