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Diplomats from the Group of Seven (G7) countries have agreed to use the profits from frozen Russian assets to fund Ukraine, according to sources who briefed the media on Thursday.

www.ft.com

Heads of state from the Group of Seven (G7) countries have agreed to use the profits from frozen Russian assets to fund Ukraine, according to sources who briefed the media on Thursday.

Diplomats from the Group of Seven (G7) countries have reached a provisional deal to use the profits from frozen Russian assets to fund Ukraine, according to sources who briefed the media on Thursday.

Under the agreement, Ukraine would receive a mostly US-backed loan of $50B by the end of the year, which would then be paid for from the interest generated on immobilized Russian central bank assets that total an estimated $260B.

Under the agreement, the US would loan Ukraine most of the $50B it's set to receive before the end of the year. That would then be paid for from the interest generated on immobilized Russian central bank assets that total an estimated $300B.

Reports prior to the summit suggested there remained a gulf of difference between the US and Europe. EU countries, namely France and Germany, were reportedly unhappy about the US insistence that Europe bears the risk if the loan was not repaid.

Politico

Reports prior to the summit in Italy suggested there remained a gulf of difference between the US and European countries who, together with Japan, form the G7. EU countries, namely France and Germany, were reportedly unhappy about the US insistence that they bear the risk if the loan was not repaid.

On top of backing most of the loan, US Pres. Joe Biden on Thursday also signed a 10-year security pact with Ukraine. Japan, the only Asian country in the G7, has also agreed to give Ukraine $4.5B.

nytimes

On top of funding backing most of the loan, Pres. Biden on Thursday also held a press conference with Ukrainian Pres. Volodymyr Zelenskyy and signed a 10-year security pact with Ukraine. Japan has also agreed to give Ukraine $4.5B.

On top of backing most of the loan, Pres. Biden on Thursday also signed a 10-year security pact with Ukraine. Japan, the only Asian country in the G7, has also agreed to give Ukraine $4.5B.

Canadian Prime Minister Justin Trudeau, whose country is the other North American G7 country, has reportedly also pledged $5B for Ukraine. Trudeau is scheduled to meet with Zelenskyy and G7 leaders on Thursday before traveling to Switzerland on Saturday for another meeting regarding Ukraine.

CP24

Canadian Prime Minister Justin Trudeau has reportedly also pledged $5B for Ukraine. Trudeau is scheduled to meet with Zelenskyy and G7 leaders on Thursday before traveling to Switzerland on Saturday for another meeting regarding Ukraine.

Also on the agenda for G7 leaders is the conflict in Gaza, migration, economic security and artificial intelligence.

Canadian Prime Minister Justin Trudeau, whose country is also in the G7, reportedly pledged $5B for Ukraine. Trudeau is scheduled to meet with Zelenskyy and G7 leaders on Thursday before traveling to Switzerland on Saturday for another meeting regarding Ukraine.

Becoming the first pontiff to attend one of these meetings, Pope Francis is scheduled to join G7 leaders on Friday and will reportedly take part in the discussions on artificial intelligence.

Also on the agenda for G7 leaders is the conflict in Gaza, migration, economic security, and artificial intelligence.

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However, those differences appear to have been bridged with diplomats telling the media that an agreement has now been reached and that the plan is expected to be announced by G7 leaders shortly.

The purpose of this agreement is to give Ukraine the means and resources to continue fending off Russia's aggression, as well as to help it rebuild its country. Russia must have to pay for the damage it inflicted on Ukraine.

France 24

France 24 #

G7 leaders agree to lend Ukraine $50 billion backed by Russia's frozen assets

This is banditry and theft — pure and simple. The proposed step of using revenue from Russia's frozen assets to fund Ukraine in the conflict is yet another example of the degradation of how the West is degrading its own standards and violating its commitments to international law.

TASS

TASS #

Kremlin calls attempts to take Russian assets step to ruining European law

There's a 20% chance that Ukraine will join the EU before 2030, according to the Metaculus prediction community.

Metaculus

Metaculus #

Ukraine Joins EU Before 2030

via G7 Italy

G7 Leaders to Agree Lending Ukraine Funds from Frozen Russian Assets

United States of America

Western Europe

Artificial Intelligence

Vatican

The purpose of this agreement is to give Ukraine the resources to continue fending off Russia's aggression and rebuild after the war is won. While some world leaders, even in the West, have been half-hearted in their support for Ukraine, the G7 on Thursday showed that it's still ready to defeat Putin militarily and make him pay to rebuild what he's destroyed.

This is banditry and theft — pure and simple. Using revenue from Russia's frozen assets to fund Ukraine in the conflict is yet another example of the West degrading its own standards and violating its commitments to international law. The saddest part is that Europe knows this will backfire economically, as Russia will be forced to respond with its own measures.

G7 Leaders Agree on Ukrainian Loan Backed by Frozen Russian Asset Funds

G7 Leaders to Agree Lendingon UkraineUkrainian FundsLoan fromBacked by Frozen Russian AssetsAsset Funds

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G7 Leaders Agree on Ukrainian Loan Backed by Frozen Russian Asset Funds

G7 Leaders to Agree Lendingon UkraineUkrainian FundsLoan fromBacked by Frozen Russian AssetsAsset Funds

The Spin

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