Janet Yellen says G7 loan to Ukraine is definitely legal
“There’s no legal issue here,” the Treasury secretary said.
By Mia McCarthy
06/16/2024 12:24 PM EDT
Treasury Secretary Janet Yellen said Sunday the G7’s planned $50 billion loan to help Ukraine using frozen Russian assets is not theft, as Russian President Vladimir Putin has branded it.
“There is no sense at all in which it’s theft. The Russian assets remain in this institution. They’ve been impounded,” Yellen said in an interview with host Jonathan Karl on ABC’s “This Week.” “The investments that Russia had have matured. So, Russia’s funds are sitting in cash, but they’re generating income for the institution which Russia has no claim on.”
Last week the G7 conference agreed on a $50 billion loan to help Ukraine using profits generated from Russian assets that were frozen after Russia invaded Ukraine. Though the assets themselves have not been permanently transferred to Western hands, Putin called the action theft and said it is illegal.
“There’s no legal issue here,” Yellen said. “And our allies, our partners, the G7 will provide Ukraine a $50 billion loan, which will be repaid over time from these proceeds. And I’d say the G7 leaders had already made it clear that they will not unfreeze these assets until Russia pays for the damage that it’s cost Ukraine.”
Ukrainian President Volodymyr Zelenskyy was at the summit in Italy and praised the loan.
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https://www.politico.com/news/2024/06/16/yellen-g7-loan-ukraine-legal-00163606
