G7 Agrees to Use $50 Billion , in Frozen Russian Assets , to Fund Ukraine.
'The Independent' reports that G7 leaders reached
a deal to repurpose profits from frozen Russian
assets worth about $50 billion to support Ukraine.
'The Independent' reports that G7 leaders reached
a deal to repurpose profits from frozen Russian
assets worth about $50 billion to support Ukraine.
The decision was made after Ukrainian President
Volodymyr Zelensky said he expected the group to
make some "important decisions" at the summit in Italy.
G7 members agreed to provide funds with profits
earned on Russia's frozen central bank assets, most
of which are held by the European Union, as collateral. .
G7 members agreed to provide funds with profits
earned on Russia's frozen central bank assets, most
of which are held by the European Union, as collateral. .
Leaders expressed that the agreement
was meant to show unity in the face
of Russian aggression in Ukraine.
It’s a very strong message
to Putin that Putin cannot
outlast us, and we will stand
by Ukraine as long as it takes, Ursula von der Leyen, European Commission
president, via 'The Independent'.
It is not European
taxpayers that are
paying for the Russian
damage [in Ukraine]
but it is Russia, Ursula von der Leyen, European Commission
president, via 'The Independent'.
'The Independent' reports that the measure relies upon
dividends and maturities from approximately $300
billion in assets frozen when Russia invaded Ukraine in 2022.
'The Independent' reports that the measure relies upon
dividends and maturities from approximately $300
billion in assets frozen when Russia invaded Ukraine in 2022.
The decision comes as a major boost for
Ukraine as Kyiv fights through a grueling
2024 against a better-equipped Russia.
Finally, we see the first step of
fairness in making sure that the
aggressor, and not the good people
from countries that support us,
are paying for Ukraine’s victory, Kira Rudik, Opposition leader in
Kyiv’s parliament, the Verkhovna Rada,
via 'The Independent'.
We applaud this step.
We hope that it is only
the first of many more
steps. And we will use
this money wisely, Kira Rudik, Opposition leader in
Kyiv’s parliament, the Verkhovna Rada,
via 'The Independent'