G7 Nations Close In on Deal to Utilize Frozen Russian Assets for Ukraine Aid

Finance ministers from the Group of Seven (G7) nations met in Stresa, Italy, to discuss a plan to utilize interest from frozen Russian assets to support Ukraine. The meeting comes as Ukraine claims to have halted the Russian advance in the Kharkiv region. Approximately $300 billion in Russian central bank assets are currently frozen in the West, primarily held in foreign currency, gold, and government bonds. Euroclear, a Belgian central securities depository, is holding an equivalent of £162 billion.