G7 Leaders Agree on Plan to Use Frozen Russian Assets to Fund Ukraine, Aiming to Raise $50 Billion Annually

The G7 nations have reached a consensus on a plan to utilize frozen Russian assets to support Ukraine, aiming to secure a $50 billion per year funding mechanism. This initiative involves leveraging the interest generated from the $325 billion of Russian assets frozen following Moscow’s invasion. The strategy proposes taking out loans on the international markets and using the $3 billion in generated interest to service these loans, thereby providing substantial financial support to Ukraine. This complex financial maneuver is subject to further technical discussions and has been met with criticism from Russia, highlighting the geopolitical tensions surrounding the plan.

  • G7 nations agree on a framework to use frozen Russian assets to aid Ukraine, targeting $50 billion per year in support.
  • The plan leverages about $325 billion in Russian assets frozen by G7 countries following Moscow’s invasion.
  • Interest generated from these assets, estimated at $3 billion annually, will be used to repay loans taken on the international markets to fund Ukraine.
  • Technical details and further discussions are required to finalize the plan.
  • Russia criticizes the initiative, warning of negative consequences for the West and suggesting it could destabilize the financial system.

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