Latest news with #ExtraordinaryRevenueAccelerationforUkraine
Yahoo
3 days ago
- Business
- Yahoo
US$3bn from Japan to fund critical Ukrainian needs – Ukraine's PM
Ukraine will receive nearly US$3 billion from Japan as part of the G7 countries' Extraordinary Revenue Acceleration for Ukraine (ERA) initiative. Source: Ukrainian Prime Minister Denys Shmyhal on Telegram Details: Shmyhal stated that the Cabinet of Ministers (the Government of Ukraine) had adopted a decision necessary to secure the funds, which will be backed by revenue from frozen Russian assets. "We will direct these funds towards financing our priority budget expenditures," he said. Background: On 18 April, Ukraine's Finance Minister Serhii Marchenko and Ambassador Extraordinary and Plenipotentiary of Japan to Ukraine Masashi Nakagome signed an agreement on the provision of a loan in the amount of up to 471.9 billion Japanese yen (about US$3 billion) to Ukraine. Ukraine is expected to receive US$3 billion from the windfall profits of frozen Russian assets between 2025 and 2026. Finland signed an agreement with the European Commission to supply heavy munitions to Ukraine, purchased with funds from frozen Russian assets. The European Union officially announced plans to allocate nearly €1.9 billion in military support for Ukraine. Support Ukrainska Pravda on Patreon!
Yomiuri Shimbun
25-04-2025
- Business
- Yomiuri Shimbun
Moscow Calls Japanese Loan to Ukraine Backed by Frozen Russian Assets ‘Theft'
Yomiuri Shimbun file photo Kremlin MOSCOW (Reuters) — Russia on Thursday accused Japan of treachery and complicity in theft after Tokyo last week signed an agreement to lend Ukraine over $3 billion for reconstruction, backed by the proceeds from frozen Russian assets. Japan signed an agreement with Ukraine on April 18 for the loan of 471.9 billion yen ($3.3 billion). Under the terms of the arrangement, the loan will be repaid with proceeds from Russian assets worth tens of billions of dollars which have been frozen in the European Union because of the war in Ukraine. The money is part of the G7's Extraordinary Revenue Acceleration for Ukraine (ERA) program, which aims to provide Kyiv with $50 billion for reconstruction. Russian Foreign Ministry spokeswoman Maria Zakharova told reporters at a briefing in Moscow on Thursday that the loan would damage already poor relations between Japan and Russia which are strained by Tokyo's support for Ukraine against what the Japanese Foreign Ministry calls Russian aggression. We have long warned the Japanese side that participation in illegitimate experiments with the sovereign assets of the Russian Federation in any form…will be regarded by us as complicity in theft, said Zakharova. Tokyo has cynically expressed its hope that these actions will not have a negative impact on relations with Russia. We have to disappoint them — such actions will certainly and inevitably have a negative impact on relations with Russia. We regard such a step as extremely hostile, as treacherous. It is inadmissible under both legal and universal concepts.'' Russia said earlier this month it saw no reason to discuss the possibility of signing a long-awaited peace treaty with Japan to formally end World War Two because of what it called Tokyo's unfriendly stance towards Moscow. Soviet troops took control of four islands off Japan's Hokkaido — known in Russia as the Kurils and in Japan as the Northern Territories — at the end of the war and they have remained in Moscow's hands since. The territorial dispute has prevented progress on signing a treaty.
Japan Today
24-04-2025
- Business
- Japan Today
Moscow slams 'treacherous' Japanese loan to Ukraine using frozen Russian assets
Russia on Thursday accused Japan of treachery and complicity in theft after Tokyo last week signed an agreement to lend Ukraine over $3 billion for reconstruction, backed by the proceeds from frozen Russian assets. Japan signed an agreement with Ukraine on April 18 for the loan of 471.9 billion yen ($3.3 billion). Under the terms of the arrangement, the loan will be repaid with proceeds from Russian assets worth tens of billions of dollars which have been frozen in the European Union because of the war in Ukraine. The money is part of the G7's Extraordinary Revenue Acceleration for Ukraine (ERA) program, which aims to provide Kyiv with $50 billion for reconstruction. Russian Foreign Ministry spokeswoman Maria Zakharova told reporters at a briefing in Moscow on Thursday that the loan would damage already poor relations between Japan and Russia which are strained by Tokyo's support for Ukraine against what the Japanese Foreign Ministry calls Russian aggression. "We have long warned the Japanese side that participation in illegitimate experiments with the sovereign assets of the Russian Federation in any be regarded by us as complicity in theft," said Zakharova. "Tokyo has cynically expressed its hope that these actions will not have a negative impact on relations with Russia. We have to disappoint them - such actions will certainly and inevitably have a negative impact on relations with Russia. "We regard such a step as extremely hostile, as treacherous. It is inadmissible under both legal and universal concepts." Russia said earlier this month it saw no reason to discuss the possibility of signing a long-awaited peace treaty with Japan to formally end World War Two because of what it called Tokyo's unfriendly stance towards Moscow. Soviet troops took control of four islands off Japan's Hokkaido - known in Russia as the Kurils and in Japan as the Northern Territories - at the end of the war and they have remained in Moscow's hands since. The territorial dispute has prevented progress on signing a treaty. © Thomson Reuters 2025.
Straits Times
24-04-2025
- Business
- Straits Times
Moscow calls Japanese loan to Ukraine backed by frozen Russian assets 'theft'
Spokeswoman of Russian Foreign Ministry Maria Zakharova attends a press conference held by Foreign Minister Sergei Lavrov on the sidelines of a meeting of foreign ministers of the BRICS group of nations in the city of Nizhny Novgorod, Russia June 11, 2024. REUTERS/Maxim Shemetov/File Photo MOSCOW - Russia on Thursday accused Japan of treachery and complicity in theft after Tokyo last week signed an agreement to lend Ukraine over $3 billion for reconstruction, backed by the proceeds from frozen Russian assets. Japan signed an agreement with Ukraine on April 18 for the loan of 471.9 billion yen ($3.3 billion). Under the terms of the arrangement, the loan will be repaid with proceeds from Russian assets worth tens of billions of dollars which have been frozen in the European Union because of the war in Ukraine. The money is part of the G7's Extraordinary Revenue Acceleration for Ukraine (ERA) programme, which aims to provide Kyiv with $50 billion for reconstruction. Russian Foreign Ministry spokeswoman Maria Zakharova told reporters at a briefing in Moscow on Thursday that the loan would damage already poor relations between Japan and Russia which are strained by Tokyo's support for Ukraine against what the Japanese Foreign Ministry calls Russian aggression. "We have long warned the Japanese side that participation in illegitimate experiments with the sovereign assets of the Russian Federation in any be regarded by us as complicity in theft," said Zakharova. "Tokyo has cynically expressed its hope that these actions will not have a negative impact on relations with Russia. We have to disappoint them - such actions will certainly and inevitably have a negative impact on relations with Russia. "We regard such a step as extremely hostile, as treacherous. It is inadmissible under both legal and universal concepts." Russia said earlier this month it saw no reason to discuss the possibility of signing a long-awaited peace treaty with Japan to formally end World War Two because of what it called Tokyo's unfriendly stance towards Moscow. Soviet troops took control of four islands off Japan's Hokkaido - known in Russia as the Kurils and in Japan as the Northern Territories - at the end of the war and they have remained in Moscow's hands since. The territorial dispute has prevented progress on signing a treaty. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Recorder
24-04-2025
- Business
- Business Recorder
Moscow calls Japanese loan to Ukraine backed by frozen Russian assets ‘theft'
MOSCOW: Russia on Thursday accused Japan of treachery and complicity in theft after Tokyo last week signed an agreement to lend Ukraine over $3 billion for reconstruction, backed by the proceeds from frozen Russian assets. Japan signed an agreement with Ukraine on April 18 for the loan of 471.9 billion yen ($3.3 billion). Under the terms of the arrangement, the loan will be repaid with proceeds from Russian assets worth tens of billions of dollars which have been frozen in the European Union because of the war in Ukraine. The money is part of the G7's Extraordinary Revenue Acceleration for Ukraine (ERA) programme, which aims to provide Kyiv with $50 billion for reconstruction. Russian Foreign Ministry spokeswoman Maria Zakharova told reporters at a briefing in Moscow on Thursday that the loan would damage already poor relations between Japan and Russia which are strained by Tokyo's support for Ukraine against what the Japanese Foreign Ministry calls Russian aggression. 'We have long warned the Japanese side that participation in illegitimate experiments with the sovereign assets of the Russian Federation in any form…will be regarded by us as complicity in theft,' said Zakharova. Russia warns the West: we will be very tough if you 'steal' our assets 'Tokyo has cynically expressed its hope that these actions will not have a negative impact on relations with Russia. We have to disappoint them - such actions will certainly and inevitably have a negative impact on relations with Russia. 'We regard such a step as extremely hostile, as treacherous. It is inadmissible under both legal and universal concepts.' Russia said earlier this month it saw no reason to discuss the possibility of signing a long-awaited peace treaty with Japan to formally end World War Two because of what it called Tokyo's unfriendly stance towards Moscow. Soviet troops took control of four islands off Japan's Hokkaido - known in Russia as the Kurils and in Japan as the Northern Territories - at the end of the war and they have remained in Moscow's hands since. The territorial dispute has prevented progress on signing a treaty.
