US Treasury Transfers $20 Billion Loan to Ukraine

Treasury Secretary Janet Yellen says the loan is ‘paid for by the windfall proceeds earned from Russia’s own immobilized assets.’

Ukraine's President Volodymyr Zelenskyy (L) welcomes U.S. Treasury Secretary Janet Yellen (R) in Kyiv, Ukraine, on Feb. 27, 2023. Ukrainian Presidential Press Service/Handout via Reuters

The U.S. Treasury Department said on Dec. 10 that it had provided a $20 billion loan to Ukraine, funded by seized Russian assets, with about a month remaining before the incoming Trump administration takes power.

In a statement, the department said it transferred the U.S. portion of a $50 billion G7 loan for Ukraine to a World Bank intermediary fund to provide economic and financial aid to the war-ravaged Eastern European nation.