G7 representatives held a meeting in Italy, where they discussed new ways to use the proceeds from Russia’s foreign exchange reserves.
Money received from Russian financial assets frozen in Europe will soon begin to flow to Ukraine, which will give strength to the resistance to the advance of Russian occupation forces. This was said by the American television channel CNN.
Officials from the Group of Seven countries met in the Italian city of Stresa to discuss new ways to use the proceeds from some 260 billion euros ($282 billion) of frozen Russian foreign exchange reserves. of Western countries after the massive invasion of Ukraine in 2022.
Italy’s Economy Minister Giancarlo Giorgetti said there had been progress on key issues. However, there remain several legal technical issues that have not yet been resolved.
A proposal that would give Ukraine a loan of up to $50 billion, using future earnings from Russian assets in the European Union as collateral, has received widespread support among US and EU officials.
G7 finance ministers hope to agree on next steps, which could be witnessed through signatures when US President Joe Biden and other leaders gather for a summit in Italy next month.
The plan does not include a full asset freeze because the EU is concerned it would discourage other countries from keeping their assets in the bloc.
As we have already written, the Russian dictator Vladimir Putin has authorized the confiscation of the property of the United States, American citizens, residents, companies operating primarily in the American market, and companies owned by them. pay compensation for confiscated assets of the Russian Federation.
Ukraine will soon receive funds from income from Russian properties
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.