U.S., allies finalize $50 billion Ukraine loan backed by Russian assets

Treasury Secretary Janet L. Yellen and Ukrainian Finance Minister Sergii Marchenko held a signing ceremony Wednesday advancing plans to provide Ukraine with $50 billion in loans, breaking a months-long logjam and providing Kyiv with cash it urgently needs before the end of the year.

The plan relies on the interest accruing on roughly $280 billion in Russian central bank assets kept in Western accounts but frozen since the start of the war in 2022. That interest, estimated at several billion dollars each year, would go to repay the loans over time. The United States will lend $20 billion before the end of this year, and European and other Western allies are expected to provide more than $30 billion.

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