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  5. G7 Nations Close In on Deal to Utilize Frozen Russian Assets for Ukraine Aid

G7 Nations Close In on Deal to Utilize Frozen Russian Assets for Ukraine Aid

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Finance ministers from the Group of Seven (G7) nations met in Stresa, Italy, to discuss a plan to utilize interest from frozen Russian assets to support Ukraine. The meeting comes as Ukraine claims to have halted the Russian advance in the Kharkiv region. Approximately $300 billion in Russian central bank assets are currently frozen in the West, primarily held in foreign currency, gold, and government bonds. Euroclear, a Belgian central securities depository, is holding an equivalent of £162 billion.

  1. UA
    Volodymyr Zelenskiy
    Ukraine Government
    1. If the world has $300bn, why not use it?
  2. Group of 7 nations
    1. We are making progress in our discussions on potential avenues to bring forward the extraordinary profits stemming from immobilized Russian sovereign assets to the benefit of Ukraine, consistent with international law and our respective legal systems.
    2. While reaffirming our interest in a balanced and reciprocal collaboration, we express concerns about China's comprehensive use of non-market policies and practices that undermines our workers, industries, and economic resilience.
  3. US
    Janet Yellen
    US Treasury Department
    1. Our hope would be to show that those assets do provide a viable stream of support in the years to come.
    2. This is an assured source of financing and it's important that Russia realise that we will not be deterred from supporting Ukraine for lack of resources.
    3. It's not a given, so I'm not saying this is a totally done deal.
  4. DE
    Christian Lindner
    Free Democratic Party
    1. There are many unresolved issues, many unanswered questions here. I don't expect any decisions to be made; the matter is too complex for that. There are still far too many questions open.
    2. We are not yet ready to find further and clear measures to finance Ukraine, but this is now a topic of intensive work.

Russia-Ukraine War

  1. Putin Visits Kursk for the First Time Since Russia Announced Recapture of the Region
  2. Drone Strikes Escalate Between Russia and Ukraine Following Trump-Putin Ceasefire Talks
  3. Russia launches largest drone attack against Ukraine since beginning of war, Ukrainian military says

sources

  1. 1.CNA News
  2. 2.Le Monde
  3. 3.The Times of India
  4. 4.Al Jazeera
  5. 5.The Guardian
  6. 6.CTV News

perspectives

  1. 1.US Foreign Policy
  2. 2.Russian Foreign Policy
  3. 3.Russia-Ukraine War
  4. 4.Chinese Foreign Policy
  5. 5.US-Russia Relations
  6. 6.Intercontinental Ballistic Missile
  7. 7.Nuclear Weapons
  8. 8.German Foreign Policy
  9. 9.Russian Politics
  10. 10.Rare-Earth Elements
  11. 11.Ukrainian Politics
  12. 12.EU-Russia Relations

countries

  1. 1.Russian FederationRU
  2. 2.UkraineUA
  3. 3.ItalyIT
  4. 4.United StatesUS
  5. 5.CanadaCA
  6. 6.ChinaCN
  7. 7.GermanyDE
  8. 8.United KingdomGB
  9. 9.JapanJP
  10. 10.FranceFR
  11. 11.BelgiumBE
  12. 12.AfghanistanAF

organizations

  1. 1.European Union
  2. 2.Euroclear
  3. 3.World Trade Organization
  4. 4.International Monetary Fund
  5. 5.World Bank
  6. 6.EU Parliament
  7. 7.King's College London
  8. 8.Australian National University
  9. 9.UN General Assembly
  10. 10.European Central Bank
  11. 11.European Commission
  12. 12.United Nations

persons

  1. 1.Janet YellenUS
  2. 2.Giancarlo GiorgettiIT
  3. 3.Serhiy Marchenko
  4. 4.Bruno Le Maire
  5. 5.Christian LindnerDE
  6. 6.Vladimir PutinRU
  7. 7.Volodymyr ZelenskiyUA
  8. 8.Anton Moiseienko
  9. 9.Philippa Webb
  10. 10.Anton SiluanovRU
  11. 11.Paolo Gentiloni
  12. 12.Chrystia FreelandCA
G7 Nations Close In on Deal to Utilize Frozen Russian Assets for Ukraine Aid