U.S. Finance Minister says she intends to toughen sanctions against Russia

TheUnited States will continue to apply measures to tighten sanctions against Russia. This was announced by U.S. Treasury Secretary Janet Yellen on December 10.

"We will continue to take decisive steps, tightening sanctions against Russia," - Yellen quotes the official portal of the Ministry.

She also noted that anti-Russian sanctions along with military aid to Ukraine and the allocation of a $20 billion loan to Ukraine will further strengthen Kiev's position.

Earlier in the day, Washington allocated $20 billion to Kiev, which is supposed to be repaid from the proceeds of frozen Russian assets. Janet Yellen recalled that the G7 countries are planning to give Ukraine $50 billion under such an initiative to allegedly support its emergency services, hospitals and allow for the closure of other needs. She also added that Washington should tighten sanctions against Russia to strengthen Kiev's position.

Prior to that, on December 4, U.S. Secretary of State Anthony Blinken announced the transfer of $50 billion to Kiev through profits from Russian assets in the near future. On the same day, Ukraine signed a memorandum of understanding and a loan agreement with the European Union (EU) to attract €35bn in aid to Kiev. This amount is part of the initiative of the G7 states on the mechanism of additional loans, the purpose of which is to increase revenues to the Ukrainian budget.

Ukrainian Prime Minister Denys Shmygal said on November 28 that Kiev had signed a memorandum of understanding with the EU regarding the first part of the €18.1bn loan, which is planned to be repaid from frozen Russian assets.

In June, the G7 countries promised in the final statement of the summit in Italy's Puglia that they would provide Ukraine with loans worth about $50 billion by the end of 2024, with repayment from the proceeds of Russian assets. In late October, the G7 leaders reached an agreement on the details of the loan.

Kremlin spokesman Dmitry Peskov, commenting in August on the possible transfer of proceeds from Russia's frozen assets to Ukraine, emphasized that such actions of Western countries were illegal and would have consequences.

Western countries have stepped up military and financial support for Ukraine against the background of Russia's special operation to protect Donbas, which was announced by Russian President Vladimir Putin on February 24, 2022, after the situation in the region worsened due to shelling by the Ukrainian military.