The Biden administration announced a controversial $20 billion loan to Ukraine on Tuesday.
The kicker? The funds are derived from frozen Russian assets, which critics are calling outright theft and an unprecedented gamble with international norms.
This decision is part of a broader $50 billion package orchestrated by the Group of Seven (G7) nations, aiming to support Ukraine amidst its ongoing conflict with Russia.
“These funds – paid for by the windfall proceeds earned from Russia’s own immobilized assets – will provide Ukraine a critical infusion of support as it defends its country against an unprovoked war of aggression,” Secretary of the Treasury Janet Yellen said in a statement.
“The $50 billion collectively being provided by the G7 through this initiative will help ensure Ukraine has the resources it needs to sustain emergency services, hospitals, and other foundations of its brave resistance. Together with America’s security assistance to Ukraine and the steps we will continue to take to decisively tighten sanctions on Russia, this action will further position Ukraine to defend its sovereignty and achieve a just peace.”
“Right now, Putin is engaging our coalition in a contest of wills, counting on us to tire and ultimately retreat. But, through creative policymaking and the unity of the G7, we are sending an unmistakable message of resolve by making Russia increasingly bear the costs of its illegal war, instead of taxpayers in our coalition,” Yellen concluded.
White House Press Secretary Karine Jean-Pierre made the announcement during the White House press briefing.
Karine Jean-Pierre: The United States and the G7 are making good on that commitment. Together we will leverage income earned on frozen Russian sovereign assets to provide a total of $50 billion of extra ordinary revenue acceleration ERA Loans to Ukraine.
This will lend vital support to the people of Ukraine as they defend their country and it also makes clear aggressors and tyrants will be responsible for the damage they cause.
Video via Eric Daugherty.
JUST IN: White House announces $50B loan for Ukrainepic.twitter.com/S8OFN5xxgi
— Eric Daugherty (@EricLDaugh) December 10, 2024
The Biden administration’s unrelenting funneling of taxpayer dollars to Ukraine shows no signs of slowing. Here’s the timeline of Biden’s recent aid announcements:
- On September 26th, the Biden regime announced a massive $8 billion package to Ukraine that included bombs.
- On October 16th, the Biden regime surged $425 million to Ukraine’s defenses.
- On November 8, after the election, the media reported Ukraine would receive $6 billion in military aid before Trump entered office.
- On December 2nd, the Biden regime announced a military assistance package worth $725 million to Ukraine.
- On December 7th—three days ago, the Biden administration announced another $988 million aid package to Ukraine.
According to the Council on Foreign Relations, as of September 2024, the Biden administration had committed approximately $175 billion in aid related to the conflict in Ukraine.
It’s important to note that this amount reflects commitments made up to September 2024 and does not include any additional aid that may have been provided since then.
This makes you think…
— Allan Aronson (@AllanAronson) December 10, 2024
