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Blinken confirms Ukraine to receive $50 billion transfer from frozen Russian assets

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Blinken confirms Ukraine to receive $50 billion transfer from frozen Russian assets
U.S. Secretary of State Antony Blinken addresses a press conference at the Ministry of Foreign Affairs in Kyiv, on Sept. 11, 2024. (Mark Schiefelbein/POOL/AFP via Getty Images)

Ukraine is set to receive $50 billion in frozen Russian assets held by the United States and the European Union, U.S. Secretary of State Antony Blinken announced on Dec. 4.

Blinken confirmed during a briefing that the transfer is part of a coordinated effort between the U.S. and EU to support Ukraine.

"...Making sure that (Ukraine) has the money, the resources it needs to sustain its economy and to sustain its defense – we’ve now managed on the basis of the frozen sovereign assets, the Russian assets that are frozen, to get $50 billion to Ukraine that will be going out the door in the next – in the coming weeks, both from the United States and Europe," Blinken said.

The funds, frozen in response to Russia's invasion, will provide crucial economic and defense assistance to Ukraine in the coming months. Blinken noted that the U.S. has provided $102 billion in assistance to Ukraine since 2022, while the allies and partners contributed $158 billion.

On Dec. 2, Blinken announced that the U.S. will deliver a $725 million weapons package to Ukraine. The move comes as President Joe Biden's administration, nearing the end of its term, works to strengthen Kyiv's defenses against Russian forces before the January transition of power.

The package will include Stinger missiles, ammunition for High Mobility Artillery Rocket Systems (HIMARS), 155mm and 105mm artillery ammunition, drones, and landmines, among other equipment.

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Olena Goncharova

Head of North America desk

Olena Goncharova is the Head of North America desk at The Kyiv Independent, where she has previously worked as a development manager and Canadian correspondent. She first joined the Kyiv Post, Ukraine's oldest English-language newspaper, as a staff writer in January 2012 and became the newspaper’s Canadian correspondent in June 2018. She is based in Edmonton, Alberta. Olena has a master’s degree in publishing and editing from the Institute of Journalism in Taras Shevchenko National University in Kyiv. Olena was a 2016 Alfred Friendly Press Partners fellow who worked for the Pittsburgh Post-Gazette for six months. The program is administered by the University of Missouri School of Journalism in Columbia.

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