RT-Engels: 30-12-2024,
Moscow has vehemently criticized the act and is accusing the West of “stealing” its assets
The US will provide Kiev with $15 billion, leveraging future revenues from frozen Russian central bank assets, Ukrainian Prime Minister Denis Shmigal announced on Monday. The Kremlin spokesperson Dmitry Peskov has previously said about Washington’s purported illegal transfer of Russian funds to Kiev that Moscow may challenge it in court.
The American funding is part of a broader $20 billion contribution under the G7’s $50 billion loan framework to Ukraine. The agreement was signed by Ukraine’s Ministry of Finance and the World Bank under the PEACE in Ukraine initiative, Shmigal claimed, in a post on his Telegram channel.
The G7, comprising the US, Canada, Japan, the UK, France, Germany, and Italy, initially pledged the $50 billion loan in June 2022, using profits from frozen Russian assets as collateral. Of the estimated $300 billion immobilized, $213 billion is held in the Brussels-based clearinghouse Euroclear.
Euroclear froze the assets of the Russian central bank in late February 2022, shortly after the EU imposed sanctions on Russia in response to the conflict escalation in Ukraine. The frozen funds have already generated billions in interest, with the clearinghouse transferring €1.55 billion ($1.63 billion) to Ukraine in July.
Moscow has vehemently criticized the asset seizures. Last Wednesday Dmitry Peskov condemned the measures as theft and warned of legal retaliation. He was reacting to Shmigal’s announcement that the US had already transferred to Ukraine the first installment of the $1 billion from the frozen Moscow central bank funds.