By Jan Strupczewski
LUXEMBOURG (Reuters) – Hungary will hold up a last offer on a $50 billion G7 loan to Ukraine upuntil after the U.S. governmental election by delaying its choice on the timing of the renewal of EU sanctions versus Russia, Hungary’s financing minister stated.
Washington requires the EU to modify its timeframe for the renewal of sanctions to every 3 years from the existing 6 months for it to contribute some $20 billion to the G7 loan, matching the European Union’s contribution, EU authorities stated.
The staying $10 billion would be supplied by G7 members Canada, Britain and Japan, who are currently on board.
The loan, concurred in concept by G7 leaders in June, would be serviced with continues produced by some $300 billion of Russian main bank possessions frozen in the West after Moscow attacked Ukraine in early 2022.
Washington does not desire to concern every 6 months whether the Russian possessions support the loan will stay frozen or not, the authorities stated.
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