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G7 finance chiefs back plan to leverage frozen Russian assets to fund Ukraine

July 6, 2024

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G7 finance ministers have backed the idea of issuing a loan to Ukraine, secured by profits on frozen Russian assets, in an effort to secure financing for Kyiv beyond 2024.

Ministers’ discussions were based on a US proposal that circulated ahead of the gathering in Stresa, Italy, to issue a loan of about $50bn to be repaid with profits from around €190bn Russian central bank assets. The Russian assets are stuck in Belgian central securities depository Euroclear.

On Saturday,…

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G7 finance chiefs back plan to leverage frozen Russian assets to fund Ukraine

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