“We are about to finalize a quota,” Yellen said during a press conference America In the $50 billion loan program,” which the G7 countries hope to be able to “grant to Ukraine by the end of the year.”
She added during this meeting, which was held within the framework of the annual meetings of the International Monetary FundWorld Bank Held this week in Washington, the United States “will contribute up to $20 billion to the $50 billion package presented by the G7.”
In June, the leaders of the Group of Seven countries reached a political agreement to use the benefits resulting from… Frozen Russian assets In their institutions, to guarantee a $50 billion loan to Ukraine.
This loan will be repaid through future interest generated from the frozen Russian assets, which amount to 300 billion euros and generate revenues of up to three billion euros annually.
“There is still a little work to do to finalize the details,” Janet Yellen noted. Noting that the amendments are “negligible,” she said, “We are very close to completing” the work.
Funding source
Yellen stressed that within the framework of the loan granted to Ukraine, “the source of its financing is not American taxpayers… but Russia (which) pays the price for this support, through the income generated from the assets that have been mobilized, the Russian sovereign assets that have been mobilized in Europe, where there is a source.” “to pay.”
Also, a new round of… Penalties “Harsh” on RussiaIts details will be announced “next week” and will target “intermediaries in third countries who supply Russia with basic equipment for its army.”
“We continue to combat Russia’s evasion of sanctions,” she said.
