United States Pledges $20 Billion to Ukraine, Partly for Military Aid
23 October, 2024 Military aid from the USA for Ukraine.
2022. Photo credits: U.S. Department of Defense
The United States intends to allocate £20 billion to Ukraine as part of the £50 billion loan agreed by the G7 at the expense of Russian frozen assets. Daleep Singh, the U.S. Deputy National Security Advisor on International Economics, confirmed these intentions.
As Singh emphasized, speaking about the £50 billion G7 loan to Ukraine, "nothing like this has ever been done before." "Never before has a multilateral coalition frozen the assets of an aggressor country and then harnessed the value of those assets to fund the defence of the aggrieved party all while respecting the rule of law and maintaining solidarity," he added. The Deputy National Security Advisor stated the White House intends to split its share of the loan--£20 billion--on military and financial assistance for Ukraine.
Daleep Singh.
Photo credits: Pentagon
Military aid must be approved by the U.S. Congress. "The United States will provide £20 billion to support Ukraine in this effort, whether it is split between economic and military support or whether it is provided entirely through economic assistance," Singh said.
He announced that the details of the loan would be agreed upon during a meeting of the Group of Seven finance ministers to be held this week in the Italian city of Stresa. Until recently, it was expected that Washington's contribution would be less than originally planned, as the EU was unable to introduce a safeguard guarantee that Russian assets would remain frozen for at least three years due to Hungary's opposition. However, Washington has softened its position.
On Tuesday, the European Parliament approved the EU's contribution to the loan of EUR35 billion (about £38 billion), although this share is expected to decrease after the US makes its contribution.
Photo illustration on the topic: Military aid
The United Kingdom has separately approved its contribution of about £3 billion.
As previously reported, the United States will allocate £35 million in 2025 as part of international support for humanitarian demining in Ukraine.