The US announced a day earlier that it would disburse the loan, as part of a US$50 billion G7 support package.

Moscow’s foreign ministry called the move “banal theft” that “will not go answered”, saying that Russia had “sufficient capacity and leverage to retaliate by seizing Western assets under its jurisdiction”.

The money forms a large part of the new loans finalised by the G7 to help Ukraine as it struggles to fight back Moscow’s forces in a conflict that has lasted almost three years.

It follows long talks between Washington and its allies about the optimal way to use frozen Russian assets to help Ukraine.

The US announcement come a month before Donald Trump, who has said he will “probably” reduce aid to Ukraine, is due to take office, sparking concerns about Washington’s long-term support to Kyiv.

Western countries have hit Russia with massive sanctions for launching its 2022 attack on Ukraine.