Biden approves $20B loan to Ukraine right before Trump takes office

12/12/2024 / By Belle Carter

President Joe Biden has announced a $20 billion loan to Ukraine, part of a broader $50 billion G7 loan deal with additional contributions from the European Union, the United Kingdom, Japan and Canada.
The loan will be repaid using interest from Russia’s frozen sovereign assets, estimated at around $300 billion. This move aims to provide support to Ukraine quickly.
The decision to release the funding before President-elect Donald Trump takes office is seen as a strategic move by the Biden administration to minimize potential changes to U.S. foreign policy under the new leadership. Critics argue that this is a calculated effort to secure support for Ukraine without Trump’s approval.
While there is bipartisan support for aid to Ukraine, there’s growing uncertainty about the future of these efforts under the Trump administration. Trump’s comments hinting at reduced U.S. assistance have alarmed the international community, while also suggesting potential negotiations to end the war.
The Biden administration is rushing to push out the last of a $725 million military aid package for Ukraine before the inauguration, highlighting the urgency and bipartisan support for aid to Ukraine despite potential policy shifts under the Trump administration.

Outgoing President Joe Biden’s administration has announced the disbursement of a $20 billion loan to Ukraine, backed by interest from frozen Russian assets. The move, which comes as President-elect Donald Trump prepares to take office, is a clear attempt by the current administration to fast-track aid to Ukraine before a potential shift in policy under the incoming administration.

The $20 billion loan is part of a broader $50 billion G7 loan deal aimed at covering around half of Ukraine’s current deficit – a staggering $38 billion – driven by the ongoing conflict with Russia.

Treasury Secretary Janet Yellen emphasized the critical timing of the loan. “This will provide Ukraine a critical infusion of support and help ensure Ukraine has the resources it needs to sustain emergency services, hospitals and other foundations of its brave resistance,” Yellen said.

The loan, according to Yellen, will be repaid using interest earned from Russia’s frozen sovereign assets, estimated at around $300 billion.

The decision to release this funding now, before Trump takes office, raises questions about the Biden administration’s motives. Critics argue that the seizure of Russian assets is a form of theft, a stance echoed by the Kremlin, which has repeatedly denounced the asset freeze.

The International Monetary Fund has also warned that such actions could undermine global confidence in the United States and its allies. Nevertheless, the Biden administration has pushed forward with its plans, demonstrating a willingness to use all available means to support Ukraine.

One week earlier, Biden also authorized a new $725 million military aid package for Ukraine and imposed additional economic sanctions on Russia. (Related: Ukrainian officials pocket half of U.S. aid money, launder some back to Democrats, former Polish official reveals.)

Meanwhile, it typically takes months for munitions and equipment to reach Ukraine after an aid package is announced, and there’s a risk that the next administration could halt these shipments before they’re delivered.

The Department of Defense is on track to continue providing authorized assistance to Ukraine, but there’s a growing sense of uncertainty about the fate of these efforts under the Trump administration.

Trump warns of possible decrease in Ukraine aid from the U.S.

Trump’s comments about reduced aid to Ukraine have sent shockwaves through the global community.

During a recent interview with NBC News, he suggested that Ukraine should prepare for reduced U.S. assistance, while also hinting at his intention to negotiate an end to the war.

Trump has maintained a focus on efforts within the U.S. to prepare for the end of the war in Ukraine. He has met with Ukrainian President Volodymyr Zelensky in Paris but has not spoken to Russian President Vladimir Putin recently.

The current administration’s efforts to shore up support for Ukraine before Trump’s inauguration reflect a broader trend in U.S. foreign policy in recent years. As the world grapples with shifting power dynamics and new challenges, the Biden administration’s final push to support Ukraine highlights the tensions and uncertainties that will likely define the coming months and years.

Visit RussiaReport.news for updates on the ongoing conflict between Russia and Ukraine and the role of the United States in this war.

Watch the video below that talks about Trump defunding the Ukraine war by asking House Speaker Mike Johnson to block sending an additional $24 billion to Zelensky.

This video is from the InfoWars channel on Brighteon.com.