The G7 countries agreed on a $50 billion loan for Ukraine at the expense of Russiaʼs frozen assets

The G7 ("Group of Seven") countries agreed on a $50 billion loan for Ukraine at the expense of income from frozen assets of Russia.

This is stated in the joint statement of the leaders of the G7 countries, published by the Italian government.

The first payment is planned to be made before the end of the year. The funds will be transferred through "different channels" both to replenish the Ukrainian budget and for military aid and the restoration of Ukraineʼs infrastructure.

Reuters notes that Ukraine will receive all funds under the loan by the end of 2027. Thus, the G7 leaders emphasized their determination to support Ukraine in its fight against Russian aggression.

Frozen Russian assets

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. In June 2024, the "Group of Seven" countries agreed to provide Ukraine with a $50 billion loan by the end of the year, which will be repaid with profits from Russian assets.

On October 23, the Council of the EU finally approved granting Ukraine a loan of up to €35 billion. This money is the blocʼs contribution to the G7 initiative to provide Ukraine with a $50 billion (€45 billion) loan, which will be repaid with profits from Russiaʼs frozen assets.

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