Treasury Department Announces Disbursement of $20 Billion Loan to Ukraine, to be Repaid with Proceeds from Tied-up Russian Sovereign Assets

WASHINGTON Today, the United States Department of the Treasury announced the disbursement of $20 billion to Ukraine under the G7 Extraordinary Income Acceleration Loan (ERA) initiative, an amount of 50 billion dollars.

These funds, financed by windfall revenues from Russia's fixed assets, will provide critical support to Ukraine as it defends its country against an unprovoked war of aggression, said Treasury Secretary Janet L. Yellen . The $50 billion collectively provided by the G7 under this initiative will help ensure that Ukraine has the resources it needs to support emergency services, hospitals and other foundations of its courageous resistance. Combined with the Americas' security assistance to Ukraine and the steps we will continue to take to decisively strengthen sanctions against Russia, this action will enable Ukraine to better defend its sovereignty and achieve a just peace. Right now, Putin is engaging our coalition in a contest of wills, counting on us to tire and ultimately retreat. But, through creative policy and G7 unity, we are sending an unequivocal message of resolve by making Russia increasingly bear the cost of its illegal war, instead of our coalition taxpayers.

After Russia's brutal invasion of Ukraine, G7 members took bold steps to immobilize Russian sovereign assets in their jurisdictions and pledged that these assets would remain immobilized until Russia end its aggression and pay for the damage it caused to Ukraine, paving the way for G7 ERA loans. Today, the United States followed through on its October commitment to provide Ukraine with $20 billion under this initiative, transferring those funds to the Resource Facilitation Fund to invest in strengthening the Financial Intermediary Fund in Ukraine (FORTIS Ukraine FIF) of the World Bank, through which they be made available to Ukraine. Through the ERA initiative, the G7 captured windfall profits from stranded Russian sovereign assets, using them to support Ukraine.

Continued support for Ukraine in the face of Russian aggression demonstrates the resolve of the United States and our partners to defend democracy against warring authoritarian regimes, protect the global economy, and strengthen our collective security. Supporting Ukraine is also vital to the national interest of the United States. Letting go of Ukraine would invite Putin to further aggression and jeopardize the security of our NATO allies in Europe, whom we are treaty committed to defending. A prosperous Ukraine will demonstrate the resolve of the United States and our partners to defend democracy against aggression, protect the global economy, and strengthen our collective security.

###

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos