G7 Hands Ukraine $40Bln Generated From Frozen Russian Assets
Sputnik – 28.01.2026
The G7 issued $37.9 billion in loans to Ukraine in 2025 using income from Russian assets, which is more than 70% of foreign financing for the Ukrainian budget, Sputnik’s calculations revealed on Wednesday.
Under a 2024 G7 plan, a $50 billion loan for Ukraine was approved, funded by proceeds from frozen Russian assets. As of December 31, 2025, $38.9 billion of this sum had already been allocated.
At the end of 2024, the United States was the first to transfer $1 billion, but since then, no further payments have been reported. The EU was the largest contributor to the scheme, providing Ukraine with $21.1 billion in loans. The remaining funds came from Canada, the UK, and Japan.
Apart from the G7 loan, Ukraine was handed 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.
In total, the Ukrainian budget raked in $52.1 billion from foreign creditors last year, 73% of which came from the G7 loan.
With the start of Russia’s military operation in Ukraine in 2022, EU and G7 members froze nearly half of Russia’s foreign currency reserves, totaling approximately 300 billion euros ($360 billion). Around 200 billion euros in frozen Russian assets are held in European accounts, primarily at the Belgium-based securities depository Euroclear. The European Commission has been pressing EU members for the green light to use these frozen Russian assets to bankroll Kiev’s war machine.
The Kremlin has cautioned that any attempts to confiscate Russian assets would amount to theft and be in violation of international law.
Following a summit in Brussels on December 19, 2025, the EU opted to abandon its plans temporarily to seize Russian state assets and instead agreed to extend a 90-billion-euro loan to Ukraine from the EU budget. However, Hungary, Slovakia, and the Czech Republic refused to shoulder any responsibility for the loan.
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Conspiracy Denial
Lies are Unbekoming | January 27, 2026
In honour of Michael Parenti (1933–2026), who passed away on 24 January 2026 at the age of 92. He spent his life naming what power prefers to leave unnamed.
In 1837, Abraham Lincoln remarked: “These capitalists generally act harmoniously, and in concert, to fleece the people.”
Today, he would be dismissed as a conspiracy theorist.
That dismissal—reflexive, automatic, requiring no engagement with evidence—is not a mark of sophistication. It is a tell. The question worth asking is not whether conspiracies exist (they are a matter of public record and a recognised concept in law) but why acknowledging their existence provokes such reliable hostility. What work does the label “conspiracy theorist” actually do?
The late political scientist Michael Parenti spent decades answering that question. His conclusion was blunt: “’Conspiracy’ refers to something more than just illegal acts. It serves as a dismissive label applied to any acknowledgment of ruling-class power, both its legal and illegal operations.” The term functions not as a descriptor but as a weapon—a thought-terminating cliché that protects the powerful from scrutiny by pathologising those who scrutinise them.
Conspiracy denial, in Parenti’s analysis, is not skepticism. It is the opposite of skepticism. It is credulity toward power dressed up as critical thinking. As he wrote in Dirty Truths: “Just because some people have fantasies of conspiracies does not mean all conspiracies are imaginary.” … continue
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