Ukraine updates: Russia hits Kyiv, Dnipro after BRICS event
Published October 26, 2024last updated October 26, 2024
What you need to know
- Russian drones and missiles killed at least seven people including women and children
- Over seven hours of sustained shelling were reported in Kyiv, Dnipro and a village in Kherson
- G7 leaders announced that frozen Russian assets would be used to provide $50 billion (€46 billion) in loans to Ukraine
This blog on the major developments in Russia's war on Ukraine on Saturday, October 26, 2024 is now closed
G7 leaders finalize $50 billion loan to Ukraine from Russian assets
G7 leaders on Friday finalized an agreement to provide some $50 billion (€46 billion) in bilateral loans to Ukraine over the next three years, funded from frozen Russian sovereign assets.
The aid is scheduled to begin as early as December 1 and continue until the end of 2027.
"These loans will be serviced and repaid by future flows of extraordinary revenues stemming from the immobilization of Russian Sovereign Assets," read a statement from G7 finance ministers.
"The loan proceeds will be disbursed through multiple channels to support Ukraine's budgetary, military and reconstruction assistance," the statement added.
The US this week promised to contribute $20 billion in loans to Kyiv as part of the package. The timing of the US loan is seemingly meant protect it from Donald Trump potentially reversing aid to Ukraine should he win the upcoming presidential election. Trump, who is seen as a friend of Russian President Vladimir Putin, has repeatedly threatened to cut all support for Ukraine if reelected.
Outgoing President Joe Biden said the loans would be repaid with interest earned from frozen Russian assets. He said the plan allows the US to support Ukraine "without burdening taxpayers."
Russian overnight airstrikes target hospital, apartments
Ukraine was subjected to a night of Russian missile and drone strikes that witnesses and authorities say lasted nearly 8 hours.
In all, at least six people were killed — including women and children — and dozens more were injured as Russian forces attacked the capital Kyiv, the central city of Dnipro, and a village in the Kherson region.
Ukrainian President Volodymyr Zelenskyy fumed on social media, posting images of burning and bombed-out buildings on X, formerly Twitter. Zelenskyy, referencing the BRICS summit hosted by Russian President Vladimir Putin posted: "After everything said in Kazan, Russian murderers have resumed their usual business."
"In Dnipro," Zelenskyy wrote, "one of Ukraine’s most important hospitals, the Mechnikov Hospital, was damaged, along with ordinary residential buildings. Tragically, three people were killed, including a child."
"This war has continued for three years now," the Ukrainian leader added, "and there is only one culprit—Moscow."
Friday's strikes came less than 48 hours after fellow world leaders urged Putin to end his war of aggression, which began with Russia's February 24, 2022 invasion.
js/rmt (AFP, AP, Reuters, dpa)