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G7: We are exploring ways to use frozen Russian assets to aid Ukraine

World News

25-05-2024 | 03:57

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G7: We are exploring ways to use frozen Russian assets to aid Ukraine

The G7 finance ministers said on Saturday that they are exploring ways to use the expected proceeds from frozen Russian assets to assist Ukraine, according to a draft statement seen by Reuters.

The G7 froze Russian assets worth around $300 billion shortly after Moscow invaded its neighbor in February 2022.

The draft statement said, "We are making progress in our discussions on potential ways to generate extraordinary profits from frozen Russian sovereign assets for the benefit of Ukraine."

A G7 source said the statement would not undergo significant changes before the final version is released.

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