Ukraine will receive $3.9B in direct budget support from the US,

said Prime Minister of Ukraine Denys Shmyhal. He expressed hope that Ukraine will be able to receive $50B in 2025 through the G7 initiative to use the profits from frozen Russian assets. In addition, the US announced the provision of $500M in new funds for energy assistance and redirected a previously announced $324M to Ukraine’s emergency energy needs.

At the same time, Minister of Finance Serhiy Marchenko clarified direct budget support from the US: “The $3.9B will be available to us at the end of July or the beginning of August. We expect a total of $7.8B this year.”

According to him, Ukraine plans to receive the remaining funds by November. The minister explained that repayment for the $7.8B is conditional and the sum is closer to a grant, and Ukraine did not  assume specific credit obligations.

“It is envisaged that half of this debt will be written off this year. The next write-off can happen as early as 2025,” Marchenko said.