G7 agrees on $50-B loan for Ukraine

By Agence France-Presse

Jun 15, 2024 12:08 am

BARI, Italy — Leaders of the G7 group of nations have decided Thursday to grant Ukraine a new $50 billion loan using profits from frozen Russian assets, a move United States President Joe Biden said showed Moscow 'we're not backing down.'

The US president and other G7 leaders agreed at a summit in Italy to use the profits from the interest on the assets to subsidize the loan to provide help this year to Kyiv.

LANDMARK PACT US President Joe Biden and Ukrainian President Volodymyr Zelenskyy sign a bilateral security agreement at the Apulia region in Italy, on June 13, 2024. AFP photo

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