Treasury Secretary Janet Yellen said during a press conference on Tuesday that seized Russian assets — the majority of which are said to reside in Europe — would generate enough capital to cover the United States $20 billion portion of the G7’s $50 billion loan to Ukraine.
“We’re very close,” Yellen began, “to finalizing Americans’ – America’s portion of this $50 billion loan package. And what I want to emphasize is that the source of financing for these loans — this is not the American taxpayer. What’s happening here is that Russia is paying for this support — the $50 billion of support that we intend to go to Ukraine by the end of this year. It is the income on the assets that have been mobilized, Russian sovereign assets that have been mobilized in Europe, that are at the source of repayment.”
Yellen added that the Russian assets would cover the loans should a “truce” be reached.
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