Reported about 1 year ago
During a summit in southern Italy, G7 leaders have agreed to use interest from frozen Russian state assets as collateral to provide Ukraine with a $50 billion loan. Western countries have frozen about $280 billion of Russian central bank assets since the invasion of Ukraine began. Discussions on how to benefit Ukraine from the interest income generated from these funds have been ongoing for some time. The G7 now aims to use this interest as collateral for a $50 billion loan, with German Chancellor Scholz stating the funds will support Ukraine's military and reconstruction. The measures have faced criticism from Russia, warning of severe consequences and potential retaliatory actions.
Source: YAHOO