G7 readies huge Ukraine support package before US political shake-up
European nations move forward with a $50 billion loan plan for Ukraine using frozen Russian money. The quick-moving initiative aims to lock in support before major political changes in America
Earlier this month European decision-makers gathered to discuss a mega-sized financial boost for Ukraine. The G7 nations put together a plan that would turn frozen Russian money into a $50B life-line for Kyiv
The support package (which uses Russian assets profits) needs quick approval - leaders want it done by Dec-24. Joe Bidenʼs administration backs this fast-tracked approach: its a way to lock-in help before next years US vote
European capitals show mixed feelings about whats coming: while they dont question current support they worry about future shake-ups. The possible comeback of Donald Trump to the White House makes them think twice about long-term plans; his earlier statements about NATO and European ties left many feeling un-easy
The whole thing shows how Europe tries to work around political un-certainty:
* Setting up funding before any US leadership changes
* Using Russian frozen money as back-up
* Making quick decisions while time is on their side
* Getting paper-work done ahead of schedule
