Ukraine gets $50 billion loan from Russian assets, signs security pact with U.S.

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BARI, Italy — President Joe Biden and Ukrainian President Volodymyr Zelenskyy signed a 10-year bilateral security agreement Thursday at an international summit that included a deal on a multibillion-dollar loan to help Kyiv defend against Russia’s invasion.

“We’re not backing down. In fact, we’re standing together against this illegal aggression,” Biden said at a joint news conference Thursday night with Zelenskyy.

Biden and his counterparts from the wealthiest democratic nations also reached a deal Thursday to give Ukraine a $50 billion loan this year backed by frozen Russian assets, signaling a determined commitment to beat back Russia’s invasion, U.S. officials said.

As Ukraine struggles to preserve its independence amid Russia’s assault, the money will go toward military aid, humanitarian support and reconstruction of the country, a Biden administration official said at a news briefing.