America is the cause of the delay in the loan of 50 billion dollars to Ukraine
Eviralnews,, citing Rashatoudi, Uractiv reported, citing sources close to the Group of 7 negotiations, that Washington is responsible for the delay in finalizing the group's plan to grant a $50 billion loan to Ukraine through frozen Russian assets.
The European Union and the United States froze about $300 billion in Russian government assets at the start of the conflict in Ukraine in early 2022. Since then, Western countries are considering using these funds to help Ukraine.
While they have so far been unable to agree on a full confiscation of the money, the Group of 7 decided in June to give Ukraine a $50 billion loan to be repaid with profits from Russia's frozen assets.
However, Euractive reported on Thursday, citing the sources, that the US has halted the process of finalizing the loan due to concerns about its repayment, which depends on how long the assets remain frozen.
Under EU law, the bloc renews sanctions targeting Russian assets every six months, requiring the consent of all 27 members.
Diplomatic sources told the outlet that Hungary, which currently holds the EU's six-month presidency, may at some point veto an extension of the blockade.
Washington has called for longer-term guarantees that the assets will remain frozen despite potential disputes within the bloc so that the West can use the frozen funds whenever needed.
For example, the US has proposed changing the EU sanctions mechanism to 12 months or longer, the sources said.
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