The French Presidency stated on Wednesday that Group of Seven leaders have agreed to assist Ukraine with $50 billion in frozen Russian assets by the end of the year.
Ahead of a G7 summit in Italy on Thursday that will focus on backing Kyiv’s fight against Russia’s invasion, a French Presidency official noted, “We have an agreement”.
G7 leaders had hoped to get an agreement on utilizing the profits from the interest on 300 billion euros ($325 billion) of frozen Russian central bank assets to assist Kyiv, with the profits serving as collateral for a loan of up to $50 billion.
US President Joe Biden will meet with Ukraine President Volodymyr Zelensky on Thursday at the G7 summit in Puglia, Italy.
“Originally this was an American initiative”, the French Presidency official continued, adding that in theory the loan to Ukraine would be returned with the proceeds from the frozen Russian assets.
The official went on to say, “But if for some reason or another, if the Russian assets are unfrozen or the proceeds from the Russian assets are not enough to finance the loan, then we’ll have to consider how to share the load of the loan”.
Also read: Markets Climb In Early Trade On Positive Global Trends
India defeated Afghanistan by seven wickets in the second T20I in New Delhi, with Sanju…
An Assam court in Bilasipara has sentenced Utpal Roy to death for the rape and…
India’s bowlers kept Afghanistan under control after an early collapse, with Nitish Kumar Reddy taking…
An IndiGo flight bound for Delhi from Agartala diverted to Lucknow after the pilot detected…
JITO Business Summit 2026 in London brought together Jain business leaders and professionals and highlighted…
India take on Afghanistan in the second T20I in New Delhi with Ravi Bishnoi replacing…