US proposes novel $50 billion Ukraine aid plan — report

The U.S. has a plan to raise $50 billion to support Ukraine
The U.S. has a plan to raise $50 billion to support Ukraine

The United States has proposed to its allies to issue at least $50 billion in bonds secured by frozen Russian assets to support Ukraine, Bloomberg reported on March 21, citing sources familiar with the plan.

According to one source, the proposal includes pooling the assets of the Russian central bank totaling $280 billion, which have been frozen by the G7 countries and the European Union.

Read also: Belgian PM supports EU proposal to allocate Ukraine billions from frozen Russian assets – Reuters

Another unnamed official said the plan could yield more than $50 billion. For instance, some EU countries, including Estonia, have urged allies to be bolder and completely confiscate Russian sovereign assets.

Read also: Belgium to allocate $217 million for ammunition purchases outside EU

On Jan. 16, the United States acknowledged legal difficulties in using the frozen Russian assets for Ukraine's benefit.

Read also: Belgian PM supports EU proposal to allocate Ukraine billions from frozen Russian assets – Reuters

On Jan. 30, EU member countries supported a plan to allocate billions of euros in revenue generated by frozen Russian central bank's assets as a first step toward their potential use for Ukraine's reconstruction.

On March 5, UK Foreign Secretary David Cameron stated London is prepared to provide Ukraine with all the frozen assets of the Russian central bank, in lieu of reparations Russia would be obliged to pay after the war.

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