06:40 GMT +314 October 2019
Listen Live
    French President Francois Hollande (left) and US President Barack Obama

    Obama, Hollande Agree to Keep Sanctions on Russia, to Fund Ukraine

    © AP Photo / Jacquelyn Martin
    Politics
    Get short URL
    0 37
    Subscribe

    US President Barack Obama and French President Francois Hollande agreed to maintain sanctions on Russia and to provide additional funding to Ukraine in a phone conversation on Tuesday.

    WASHINGTON, January 21 (Sputnik) — US President Barack Obama and French President Francois Hollande have agreed to maintain sanctions on Russia and on the importance of providing additional funding to support the Ukrainian government amid the ongoing crisis in Kiev which has pushed the country to the verge of default, the White House announced in a statement on Tuesday

    “They [President Obama and Hollande] also discussed the situation in eastern Ukraine and the need to maintain sanctions against Russia in the absence of implementation of the Minsk agreements,” the White House statement read. “And they agreed upon the importance of providing additional financial support to the Ukrainian government. “

    In January, the US Department of Treasury announced that it would give up to $2 billion in loan guarantees to the Government of Ukraine in 2015. During the first half of 2015, the US Treasury Department said that it would provide Ukraine with a $1 billion loan guarantee, and if Kiev made progress with its reform agenda, that an additional $1 billion loan guarantee would be provided later in the year.

    The United States has provided Ukraine with some $340 million in assistance in 2014, in addition to the $1 billion sovereign loan guarantee provided in May 2014.

    Amid the ongoing crisis in Ukraine, Kiev has found itself on the verge of a default and has tried to rescue its economy through international loans. During the spring of 2014, the International Monetary Fund promised Kiev a total of $17 billion in bailout loans, to be paid over the course of two years.

    Related:

    French Flags, Hollande Pictures Burned at Charlie Hebdo Protests Worldwide
    Putin Condemns Charlie Hebdo Attack in Phone Call With Hollande: Kremlin
    Obama Says US, UK to Keep Strong Sanctions Against Russia
    Tags:
    International Monetary Fund, White House, US Department of the Treasury, Francois Hollande, Kiev, Ukraine, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik