US EditionG7 leaders reach deal to provide Ukraine a $50 billion loan backed by Russian assets
- Leaders of the Group of Seven agreed to provide a $50 billion loan to aid Ukraine, using interest on profits from Russia’s frozen central bank assets as collateral.
- The loan, mainly from the U.S., is backed by windfall profits from $300 billion in immobilized Russian assets, with the majority held in the EU.
- $50 billion loan for Ukraine will be secured by at least $260 billion frozen Russian central bank assets, largely in EU countries.
198 Articles
198 Articles
G7 leaders agree to a $50 billion loan to help Ukraine in its survival struggle, backed by interest generated from frozen assets of the Russian Central Bank. The seven richest democracies in the world were still working on the details during their summit in Apulia, Italy. Ukraine could receive the funds before the end of the year, according to US and French officials. US President Joe Biden said on Thursday at a press conference that the measure…
Australia news as it happened: G7 summit opens with deal to use Russian assets for Ukraine; Coalition to push for social media reform
The annual Group of Seven summit, held this week in southern Italy, opened with an agreement reached to loan $US50 billion to Ukraine using frozen Russian assets, plus Opposition Leader Peter Dutton says young teens are suffering from an increase in mental health and body image issues exacerbated by social media.
The loan would be covered by interest on locked Russian funds.
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