The G7 countries intend to keep russian assets frozen even after the end of russia's full-scale war against Ukraine. The profit from the assets is planned to be used to repay the loans granted to Kyiv by its partners.
Nikkei writes about this with reference to numerous sources in the G7, including high-ranking officials of the European Union.
According to the Japanese media corporation, the G7 intends to keep frozen russian assets until russia not only stops the war against Ukraine, but also until the aggressor country pays it for the damages.
As Nikkei writes, this is stated in the draft statement of the G7 leaders. It is planned to be published by the end of the month.
At the G7 summit in June 2024, group members broadly agreed on a scheme of financial assistance to Ukraine. It is assumed that the profit received from the frozen assets of the russian federation will be used to repay the loans granted to Kyiv by the G7 members.
As noted, the negotiations on the finalization of this scheme faced difficulties, as the G7 countries could not agree on how to guarantee repayment of loans. This agreement is necessary in order to determine the distribution of the financial burden on each member of the group.
According to Nikkei, it is likely that the G7 countries reached a compromise on this issue, finding a way to use the profits from the assets even after the end of the war.
As Ukrainian News Agency earlier reported, on June 13, 2024, the G7 countries agreed to provide Ukraine with a USD 50 billion loan at the expense of revenues from frozen russian assets.
As it became known in July, the first tranche of revenues from the frozen assets of the russian federation will be directed to the purchase of ammunition and air defense equipment for Ukraine.
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