Russia deputy FM describes US loan to Ukraine as ‘theft’ of Russian funds

(MENAFN) Russia’s Deputy Foreign Minister Sergey Ryabkov has condemned the US decision to provide Ukraine with a $20 billion loan funded by frozen Russian central bank assets, calling it an act of "robbery" by the Group of Seven (G7) nations. The loan is part of a larger $50 billion financial package for Ukraine, with similar contributions from the EU and other G7 members.

Following the escalation of the Ukraine conflict in 2022, the US and its allies froze approximately $300 billion of Russian central bank assets. These funds are being used as collateral for the loan to help Ukraine with weapons purchases and infrastructure rebuilding. While US officials, including Treasury Secretary Janet Yellen, emphasized that the loan will provide critical support to Ukraine, Moscow has repeatedly labeled the move as theft and warned that it sets a dangerous precedent.

Russian officials, including Finance Minister Anton Siluanov, have warned of potential retaliatory actions and criticized the West’s handling of the seized assets. The International Monetary Fund has also expressed concerns about the lack of legal backing for the seizure, which could damage confidence in the global financial system.

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