The Biden administration announced today that the U.S. will pump Ukraine with $20 billion in stolen Russian assets to keep the war going — which is part of a $50 billion effort by the G7 announced in October
“These funds – paid for by the windfall proceeds earned from Russia’s own immobilized assets – will provide Ukraine a critical infusion of support as it defends its country against an unprovoked war of aggression,” Janet Yellen, the secretary of the Treasury, said in a statement. She continued: “We are sending an unmistakable message of resolve by making Russia increasingly bear the costs of its illegal war, instead of taxpayers in our coalition.”
(U.S. taxpayers already sent Ukraine over $60 billion in weapons.)
The International Monetary Fund warned in May that the Western push to confiscate Russian assets or the interest on these funds could dramatically undermine the global monetary system.
Hellbound and Down 