The kicker? The funds are derived from frozen Russian assets, which critics are calling outright theft and an unprecedented gamble with international norms.

This decision is part of a broader $50 billion package orchestrated by the Group of Seven (G7) nations, aiming to support Ukraine amidst its ongoing conflict with Russia.

"These funds – paid for by the windfall proceeds earned from Russia's own immobilized assets – will provide Ukraine a critical infusion of support as it defends its country against an unprovoked war of aggression," Secretary of the Treasury Janet Yellen said in a statement.

"The $50 billion collectively being provided by the G7 through this initiative will help ensure Ukraine has the resources it needs to sustain emergency services, hospitals, and other foundations of its brave resistance. Together with America's security assistance to Ukraine and the steps we will continue to take to decisively tighten sanctions on Russia, this action will further position Ukraine to defend its sovereignty and achieve a just peace."