G7 Leaders Unite to Fund Ukraine with Frozen Russian Assets

The Group of Seven (G7) leaders have agreed to provide Ukraine with a $50 billion loan, which will be repaid through interest and profits from nearly $300 billion in frozen Russian assets held in the West. The loan is intended to support Ukraine's fight against Russia's invasion and rebuild damaged infrastructure. The deal was announced during the G7 summit in Italy, where leaders also signed a 10-year security agreement between Washington and Kyiv, committing the US to provide military aid and training to Ukraine over the next decade.

G7 leaders are set to agree on a $50 billion loan for Ukraine, secured against the future profits from interest on 300 billion euros of Russian central bank assets frozen after the February 2022 invasion. The funds would be sourced from Russian assets that have been frozen and would be provided in the form of a loan from the US government backed by windfall profits being earned on immobilized Russian assets. Most of the cash is being held in European Union nations.