US EditionEU Economy Chief Urges G7 to Join Plan Tapping Russia Assets for Ukraine
The UK and Canada will join the EU's initiative to loan frozen Russian assets to Ukraine, aiming to support Ukraine's recovery without seizing funds outright, officials said.
- On Wednesday, the United Kingdom and Canada signalled willingness to join the European Union's plan to borrow frozen Russian assets, as the EU urges G7 partners to consider the approach to aid Ukraine.
- Designed to avoid outright seizure, European allies developed a plan to lend Ukraine frozen Russian assets, with any post-war reparations reimbursing European lenders.
- Under the plan, the EU would borrow from matured cash deposits held at Euroclear, international deposit organisation in Belgium, while Belgium seeks guarantees that risks will be shared and coordination will happen at the G7 level.
- In response, G7 finance ministers agreed to 'work in a coordinated way' and will discuss further sanctions, while the Kremlin called the plan 'theft' and threatened retaliation.
- Amid wider G7 talks, discussions unfold as G7 finance ministers' meeting in Washington covers China's rare earths export curbs and Valdis Dombrovskis said, `There are quite sizable fiscal implications`.
40 Articles
40 Articles
Leaders and officials seek new sources of international funding to sustain economic and military support for Kiev
The European Union is preparing a war reparations law to rebuild Ukraine, European Economy Commissioner Valdis Dobrovskis has announced, urging G7 states to do the same in terms of revenue generated from frozen Russian assets on their territories. The proceeds from frozen Russian assets under the sanctions imposed on Moscow should be used to finance the reconstruction of Ukraine, stressed European Economy Commissioner Valdis Dombrovskis, who hop…
At the upcoming European Union summit, German Chancellor Friedrich Merz will propose using frozen Russian assets in the West to provide Ukraine with a €140 billion loan, RBC-Ukraine reports, citing Reuters. These funds are intended to help Kyiv finance defense needs and maintain economic stability. Merz noted that the EU must act decisively to demonstrate to Russia that its support for Ukraine will remain unwavering. He first proposed an interes…
Britain and Canada will join an EU initiative to use Russian assets to support Kyiv.
The UK and Canada will participate in an EU plan to utilize nearly $300B in Russian assets that are frozen in the G7 countries to strengthen financial assistance for Ukraine. The European allies are close to finalizing an agreement that would provide loans through a reparations loan mechanism, which would allow direct confiscation of these assets to be avoided. The loan would be used to help Ukraine purchase weapons, including from the US, and w…
Coverage Details
Bias Distribution
- 42% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
