Shmyhal: Ukraine has already received $1 billion from the United States as part of the G7 initiative

Ukraine received 1 billion dollars from the United States, secured by revenues from frozen Russian assets, Prime Minister Denys Shmyhal announced on December 24.

“This is the first tranche of the planned 20 billion dollars, which the United States is ready to allocate due to the use of immobilized Russian assets within the framework of the G7 initiative,” he said.

Read also: World Bank: Ukraine will receive $2 billion in aid, part of which is income from the frozen assets of the Russian Federation

Shmyhal thanked the United States and the World Bank for “an important step on the way to justice.” He expressed hope that all sovereign assets of Russia will be confiscated and directed to the restoration of Ukraine.

On December 10, the US Treasury announced that the United States will provide Ukraine with $20 billion in loans as part of the Group of Seven’s Extraordinary Revenue Acceleration (ERA) Loans initiative, which provides for a total of $50 billion.

On October 23, the Council of the European Union agreed on the contributions from the Group of Seven countries for a $50 billion loan to Ukraine at the expense of profits from Russian frozen assets.