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    G7 Finalizes $50 Billion Ukraine Loan Backed by Russian Assets

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    The economic lifeline is expected to be disbursed by the end of the year.The Group of 7 nations will announce on Wednesday that it has finalized plans to give Ukraine a $50 billion loan using Russia’s frozen central bank assets, according to a White House official.The loan represents an extraordinary maneuver by Western nations to essentially force Russia to pay for the damage it is inflicting on Ukraine through a war that shows no sign of ending.“Never before has a multilateral coalition frozen the assets of an aggressor country and then harnessed the value of those assets to fund the defense of the aggrieved party,” Daleep Singh, the White House’s deputy national security adviser for international economics, said on Wednesday.The announcement comes after months of debate and negotiation among policymakers in the United States and Europe over how they could use $300 billion of frozen Russian central bank assets to support Ukraine.The United States and the European Union enacted sanctions to freeze Russia’s central bank assets, most of which are held in Europe, after its invasion of Ukraine in early 2022. As the war dragged on, officials in the United States pushed for the funds to be seized and given directly to Ukraine to aid in its economic recovery.European officials had concerns about the lawfulness of such a move, however, and both sides eventually agreed over the summer that they would use the interest that the assets were earning to back a $50 billion loan.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      $50 Billion in Aid to Ukraine Stalls Over Legal Questions

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      U.S. and European officials are struggling to honor their pledge to use Russian assets to aid Ukraine.A long-awaited plan to help Ukraine rebuild using Russian money is in limbo as the United States and Europe struggle to agree on how to construct a $50 billion loan using Russia’s frozen central bank assets while complying with their own laws.The fraught negotiations reflect the challenges facing the Group of 7 nations as they attempt to push their sanctions powers to new limits in an attempt to punish Russia and aid Ukraine.American and European officials have been scrambling in recent weeks to try to get the loan in place by the end of the year. There is added urgency to finalize the package ahead of any potential shifts in the political landscape in the United States, where support for Ukraine could waver if former President Donald J. Trump wins the presidential election in November.But technical obstacles associated with standing up such a loan have complicated matters.Group of 7 officials grappled for months over how to use $300 billion in frozen Russian central bank assets to aid Ukraine. After European countries expressed reservations about the legality of outright seizing the assets, they agreed that it would be possible to back a $50 billion loan with the stream of interest that the assets earn.The solution was intended to provide Ukraine with a large infusion of funds without providing more direct aid from the budgets of the United States and European countries. It also allowed western allies to make use of Russia’s assets without taking the step of actually spending its money, which many top officials in Europe believed would be illegal.But differences in the legal systems in the United States and in Europe, which both plan to provide the money up front, have made it difficult to structure the loan.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Tax Dispute Becomes Political as India Freezes Opposition’s Accounts

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      Just weeks before pivotal elections, the authorities have blocked access to several of the Indian National Congress’s main bank accounts, the party said.India’s largest opposition party accused the national authorities on Thursday of paralyzing its political activities by blocking the party’s access to its bank accounts, in what it described as a heavy-handed response to a tax dispute just weeks before a pivotal general election.Officials with the party, the Indian National Congress, said that eight of its 11 main accounts at four banks had been frozen, and that there was no clear indication of when the party would regain access to the money.“We can’t support our workers; we can’t support our candidates,” Rahul Gandhi, an Indian National Congress leader, said at a news conference in New Delhi. “Our leaders can’t fly. Forget flying — they can’t take a train.”“Our ability to fight elections has been damaged,” he said.Campaigning is heating up for a six-week-long election that starts on April 19 and will determine the next prime minister for the world’s most populous democracy. To run election campaigns from the Himalayan mountains to India’s southern shores, political groups spend billions of dollars in what is seen as one of the world’s most expensive elections.Under Indian law, political groups are exempted from paying income taxes on their funding from individuals and corporations, but must declare their income to the tax authorities each year. The current dispute relates to how heavily the Indian National Congress should be penalized for past irregularities.Last month, the country’s Income Tax Department, which is controlled by Prime Minister Narendra Modi’s government, froze the Congress party’s accounts on accusations that it had been 45 days late in filing tax returns on its cash contributions for the 2017-18 financial year. The department also took from the party’s bank accounts $2 million of the $16 million that it said was owed in penalties.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      DeSantis and Haley Diverge on Help for Gaza Refugees

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      The two Republican candidates appeared to diverge on attitudes toward civilians in the Gaza Strip who are bracing for an invasion by Israel.The deepening humanitarian crisis in the Gaza Strip is driving a wedge between Ron DeSantis and Nikki Haley, two of the leading Republican presidential candidates, who deviated sharply on Sunday over whether the United States should help Palestinian refugees from the region ahead of an expected Israeli invasion.In an appearance on the CBS morning show “Face the Nation,” Mr. DeSantis, the Florida governor, doubled down on remarks he had made one day earlier in Iowa, espousing a hard-line opposition toward helping civilians who have been thrust into the middle of the conflict.“They teach kids to hate Jews,” he said. “The textbooks do not have Israel even on the map. They prepare very young kids to commit terrorist attacks. So I think it’s a toxic culture.”Ms. Haley, the former United Nations ambassador under President Donald J. Trump, pushed back against that view during a CNN interview on Sunday with Jake Tapper on “State of the Union.”“America has always been sympathetic to the fact that you can separate civilians from terrorists,” she said after being shown a clip of Mr. DeSantis’s initial comments on Saturday.Nearly one million people are grappling with shortages of food, clean water and shelter in Gaza, which is bracing for a land invasion by Israel in retaliation for the Oct. 7 attacks and the taking of hostages by Hamas, an Iran-backed militant group.Mr. DeSantis argued on Sunday that it would be detrimental to the United States to “import” large numbers of refugees and would fuel antisemitism, echoing comments he made about people in Gaza the day before that drew scrutiny.At a campaign event on Saturday, Mr. DeSantis said, “If you look at how they behave, not all of them are Hamas, but they are all antisemitic. None of them believe in Israel’s right to exist.”He added: “The Arab states should be taking them. If you have refugees, you don’t fly people in and take them into the United States of America.”When the CBS anchor Margaret Brennan pointed out to Mr. DeSantis that Arabs are Semites and replayed his remarks, he stood by his words.Nikki Haley, former South Carolina governor at the First in the Nation Leadersip Summit in Nashua, New Hampshire on Friday.John Tully for The New York TimesGovernor Ron DeSantis of Florida at the First in the Nation Leadership Summit in Nashua, New Hampshire on Friday.John Tully for The New York Times“There was a lot of celebrating of those attacks in the Gaza Strip by a lot of those folks who were not Hamas,” he said.Ms. Brennan suggested that it was a remote possibility that refugees from Gaza could resettle in the United States, saying that they could not even evacuate from their immediate area. Still, Republicans have used the broader conflict to frame their postures on military action and humanitarian aid.In the House, Representatives Tom Tiffany of Wisconsin and Andy Ogles of Tennessee, both Republicans, have announced that they plan to introduce a bill they say would block the Biden administration from issuing visas to Palestinian passport holders.Mr. DeSantis, who served in the Navy’s Judge Advocate General Corps in Iraq, was also asked whether he would advise the Israeli military to stop their attacks on the infrastructure that provides water and electricity to Gaza.“I don’t think they’re under an obligation to be providing water and these utilities while the hostages are being held,” he said.Ms. Haley struck a more sympathetic chord earlier on Sunday, saying that large percentages of Palestinians and Iranians did not support the violence being perpetrated against one another.“There are so many of these people who want to be free from this terrorist rule,” she said.While the Republican candidates have expressed solidarity with Israel in the wake of the Hamas attacks, they have also clashed with each other over who is most loyal to Israel, America’s closest Middle East ally, and what the role of the United States should be in conflicts overseas.Ms. Haley on Sunday continued to condemn Mr. Trump, her former boss and the Republican front-runner, for referring to Hezbollah, the Iran-backed militant group, as “very smart” while criticizing Israel’s prime minister and Israeli intelligence. She accused Mr. Trump of emboldening U.S. adversaries and drawing attention to himself.“You don’t go and compliment any of them because what that does is that makes America look weak,” she said on CNN, adding: “This isn’t about Trump. It’s not about him.”A spokesman for the Trump campaign did not immediately respond to a request for comment on Sunday.Ms. Haley also leveled fresh criticism toward President Biden, saying that he should never have agreed to free up $6 billion in frozen oil revenue money for Iran for humanitarian purposes as part of a hostage release deal that was announced in August.Facing blowback over the money’s release, the Biden administration and Qatar agreed last week to deny Iran access to the funds, which White House officials had said had not been spent.“You empowered Iran to go and strengthen Hamas, strengthen Hezbollah, strengthen the Houthis to spread their terrorist activity,” Ms. Haley said.The White House did not immediately respond to a request for comment on Sunday.Haley Johnson More

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      Trump and Other GOP Candidates Use Israel-Gaza to Criticize Biden

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      Republicans renewed their opposition to President Biden’s decision to unfreeze $6 billion for humanitarian purposes as part of recent hostage release negotiations.Republican presidential candidates seized on the Hamas attack on Israel Saturday to try to lay blame on President Biden, drawing a connection between the surprise assault and a recent hostage release deal between the United States and Iran, a longtime backer of the group.Former President Donald J. Trump, who has frequently presented himself as a unflinching ally of Israel and who moved the U.S. Embassy to Jerusalem from Tel Aviv in 2018, blamed Mr. Biden for the conflict.While campaigning on Saturday in Waterloo, Iowa, he said the attacks had occurred because “we are perceived as being weak and ineffective, with a really weak leader.”On several occasions, Mr. Trump went further, saying that the hostage deal was a catalyst of the attacks. “The war happened for two reasons,” he said. “The United States is giving — and gave to Iran — $6 billion over hostages.”In exchange for the release of five Americans held in Tehran, the Biden administration agreed in August to free up $6 billion in frozen Iranian oil revenue funds for humanitarian purposes. The administration has emphasized that the money could be used only for “food, medicine, medical equipment that would not have a dual military use.”A senior Biden administration official responded to the comments by Mr. Trump — as well as to criticism by other Republican candidates — by calling them “total lies” and accusing the politicians of having either a “complete misunderstanding” of the facts or of participating willingly in a “complete mischaracterization and disinformation of facts.”Another Biden administration official, Adrienne Watson, a spokesperson for the National Security Council, said in a statement, “These funds have absolutely nothing to do with the horrific attacks today, and this is not the time to spread disinformation.”Mr. Trump, the G.O.P. front-runner, was not alone in assailing Mr. Biden, as the entire Republican field weighed in on the attacks on Saturday.In a video posted on X, formerly known as Twitter, Gov. Ron DeSantis of Florida faulted the Biden administration for its foreign policy decisions in the Middle East.“Iran has helped fund this war against Israel, and Joe Biden’s policies that have gone easy on Iran has helped to fill their coffers,” he said. “Israel is now paying the price for those policies.”In a statement issued through the White House, Mr. Biden pledged solidarity with Israel and said that he had spoken with Benjamin Netanyahu, the country’s prime minister.“The United States unequivocally condemns this appalling assault against Israel by Hamas terrorists from Gaza, and I made clear to Prime Minister Netanyahu that we stand ready to offer all appropriate means of support to the Government and people of Israel,” Mr. Biden said.Yet while the G.O.P. candidates rallied around Israel on Saturday, there is a divide in the party between foreign policy hawks and those who favor a more isolationist approach.In addition to criticizing Mr. Biden on Saturday, former Vice President Mike Pence had harsh words for fellow Republicans who prefer a more hands-off approach to conflicts abroad.“This is what happens when @POTUS projects weakness on the world stage, kowtows to the mullahs in Iran with a $6 Billion ransom, and leaders in the Republican Party signal American retreat as Leader of the Free World,” Mr. Pence wrote on X. “Weakness arouses evil.”Other Republican candidates, including Nikki Haley, who was an ambassador to the United Nations under Mr. Trump, and Senator Tim Scott of South Carolina denounced the attacks as acts of terrorism.“Make no mistake: Hamas is a bloodthirsty terrorist organization backed by Iran and determined to kill as many innocent lives as possible,” Ms. Haley said in a statement.Former Gov. Chris Christie of New Jersey echoed the criticism of his Republican rivals in a social media post, calling the release of $6 billion by the Biden administration to Iran “idiotic.” Gov. Doug Burgum of North Dakota and Mr. Hutchinson similarly sought to connect the attack with the release of humanitarian funds for Iran.Vivek Ramaswamy, the biotech entrepreneur, called the attacks “barbaric and medieval” in a post on X.“Shooting civilians and kidnapping children are war crimes,” he wrote. “Israel’s right to exist & defend itself should never be doubted and Iran-backed Hamas & Hezbollah cannot be allowed to prevail.”Michael Gold More