This is yet another reminder to Putin: Biden

US President Joe Biden issued a statement regarding the historic decision to utilize frozen Russian assets to support Ukraine. The text of the statement was published by the White House.

“This summer, I led a united effort from G7 nations to provide Ukraine with $50 billion in urgently needed loans backed by profits from seized Russian sovereign assets,” the statement reads.

It is noted in the statement that as part of the G7 package, the United States is announcing the provision of $20 billion in loans to Ukraine, which will be paid from the interest accrued from frozen Russian assets.

“In other words, Ukraine will be able to receive the necessary assistance now without burdening taxpayers. These loans will support the people of Ukraine as they defend and rebuild their country. Our efforts are making it clear that tyrants will be held accountable for the damages they cause,” the statement continues.

“Do not be mistaken: Russia will not win this conflict. The people of Ukraine will prevail. This is yet another reminder to Vladimir Putin that the world has rallied around Ukraine, and the United States, along with our G7 partners, will continue to support them at every step,” it adds.