In a significant move to support Ukraine, G7 leaders agreed to utilize interest generated from frozen Russian assets to secure a $50 billion loan for the country.

The announcement was made by UK Finance Minister Rachel Reeves and Defence Secretary John Healey, coinciding with the upcoming IMF and World Bank meetings.

In a show of solidarity, German Education Minister Bettina Stark-Watzinger visited Kyiv to sign a new bilateral agreement on scientific and technological cooperation.

This financial support comes at a critical time as Russian troops continue to advance further into eastern Ukraine.

This loan, part of a broader G7 agreement, aims to provide essential financial support for Ukraine's military, budgetary, and reconstruction needs.

The funds will be disbursed in several tranches and are expected to be used for financing air defense, artillery, and other military equipment.

U.S. Treasury Secretary Janet Yellen confirmed that the United States will contribute approximately $20 billion to this financial package, bolstering the EU's support.

The U.S. has expressed concern over reports of North Korean soldiers potentially being deployed to Russia for use in Ukraine, labeling it a 'dangerous' development.

With the U.S. presidential election approaching, there is urgency in finalizing the loan agreement, especially given Donald Trump's skepticism about ongoing U.S. funding for Ukraine.

The EU plans to contribute around $20 billion, equating to 18 billion euros, to the international loan for Ukraine, as confirmed by German Finance Minister Christian Lindner.

Yellen emphasized that the funding for this loan will not come from American taxpayers but from revenues generated by Russian sovereign assets frozen in Europe.

Reeves reaffirmed the UK's unwavering support for Ukraine, highlighting that the loan is crucial not only for Ukraine's defense but also for UK national interests.