G7 Nations Approve $50 Billion Loan for Ukraine

The Group of Seven (G7) nations have finalized a $50 billion loan package for Ukraine, utilizing profits from frozen Russian assets to support the war-torn country's economy and military. The U.S. will contribute $20 billion, with at least half earmarked for economic assistance and the remainder for military support, contingent on Congressional approval. This unprecedented move is intended to help Ukraine as it faces significant challenges heading into winter amidst ongoing conflict with Russia. The remaining $30 billion will come from G7 partners, including the European Union, the UK, Canada, and Japan. This initiative marks a significant shift in leveraging frozen assets to aid an aggrieved nation while navigating complex legal considerations. The funds are expected to be disbursed by the end of the year, reflecting a commitment from Western allies to support Ukraine's needs during a critical time.