Kyodo: Japan will provide Ukraine with a $3.3 bn loan, which will be repaid with revenues from the frozen assets of the Russian Federation

Japan will provide Ukraine with a loan of $3.3 billion. It will be covered by income from frozen Russian assets.

Kyodo writes about this with reference to sources.

During the summit in Italy, the leaders of the "Great Seven" (G7) agreed on a financial structure that will provide Ukraine with almost $50 billion in aid at the expense of Russian frozen assets.

All G7 member states and the European Union have agreed to provide loans that will be repaid with the proceeds of about $280 billion in frozen Russian funds, most of which are in Europe.

The United States and the EU are expected to contribute $20 billion each, while Japan, Britain and Canada will share the remaining $10 billion. G7 plans to start the project by the end of this year.

At the same time, France, Germany and Italy have not yet expressed their desire to participate in the lending program. G7 finance ministers and central bank governors are ready to discuss this issue at the G20 summit in Rio de Janeiro.

• The decision not to confiscate Russian assets, but to transfer the profits to the Ukraine Aid Fund, was made in particular due to the position of Saudi Arabia, which threatened to sell part of the European bonds if the assets of the Russian Federation were confiscated.