The Group of Seven (G7) leaders meeting in Italy reached a political agreement on the use of Russian assets for Ukraine.
According to Report, this agreement was announced by Italian Prime Minister Giorgia Meloni at the end of the first day of the summit.
Meloni explained that it was not about confiscation, but about the use of the proceeds from the investment of frozen Russian assets under the guarantee of lending to Kiev.
“We have reached a political agreement to provide Ukraine with financial support in the amount of 50 billion dollars through the credit system until the end of the year. This is not confiscation, but the use of accumulated interest,” she said.
The plan on how the assets will be utilised “from a technical point of view” should be determined shortly, taking into account the decisions already taken by the EU on this issue, Meloni said.
It should be recalled that following the outbreak of war in Ukraine, the EU, Canada, the US and Japan froze Russia’s assets worth around $300bn.