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    No G7 agreement on using frozen Russian assets for Ukraine

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    By on Ukraine News
    No G7 agreement on using frozen Russian assets for Ukraine

    G7 leaders are still in disagreement over using profits from Russian assets to assist Ukraine, with concerns about legal and fiscal implications. The U.S. suggests seizing the assets directly, while the EU proposes using windfall profits for Kyiv. Plans for a $50 billion loan secured by interest on frozen assets are being urged by the U.S. ahead of a summit in Italy, which President Zelensky will attend.

    Discussions are ongoing regarding the allocation of funds for Ukraine’s defense industry, with a proposed annual amount of 3 billion euros. However, questions about contributions from G7 countries not in the EU remain unanswered. Minister Maliuska notes the funding is minimal in the context of war. Despite technical challenges, efforts are being made to finalize a proposal at the upcoming summit.

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    Chris York is a British journalist currently working as a news editor at the Kyiv Independent. He covers local news from Ukraine, latest news updates on the ongoing Russia-Ukraine conflict, as well as international stories.

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