G7 May Support Ukraine With $50 Billion Using Seized Russian Assets: Yellen

U.S. Treasury Secretary Janet Yellen indicated that G7 nations might back Ukraine with up to $50 billion through loans tied to seized Russian assets. Yellen emphasized the importance of a unified G7 response to support Ukraine’s substantial needs and generate meaningful resources for their long-term aid.

U.S. Treasury Secretary Janet Yellen said there was a possibility G7 nations would support Ukraine by as much as $50 billion using loans linked to seized Russian assets, Sky News reported on Tuesday. "I believe it's important for the G7 to work together to show a united front and to show that we can generate meaningful resources to support Ukraine over the next several years," she told Sky News.

"While America stands behind Ukraine and I expect Congress, if necessary, will pass future packages, Ukraine has substantial needs and being able to marshal significant resources to help Ukraine is important." Sky's story on its website did not provide the full quote saying a loan was a possibility.