G7 leaders agreed to allocate $50 billion to Ukraine at the expense of Russian frozen assets

The leaders of the G7 ("Big Seven") countries agreed to allocate $50 billion to Ukraine, which will be paid out of profits from frozen assets of Russia.

This was reported by the Minister of Finance of Germany Christian Lindner.

"Another $50 billion for Ukraine. For this, we use interest from frozen assets — a smart tool that shows Putin our unity, helps Ukraine a lot and takes the burden off budgets," Lindner said.

According to him, the G7 is currently working on the details of this plan. Bloomberg, citing sources, wrote that Ukraine can get a loan by the end of 2024.

• The value of frozen Russian sovereign assets in the EU is almost €211 billion. In total, the European Union, the G7 countries and Australia have frozen approximately €260 billion in securities and cash. At the end of May 2024, at the G7 meeting, it was not possible to agree on a scheme to transfer finances to Ukraine.