Official statements or reports from the G7, World Bank, or other credible international bodies

G7 Summit in Italy Demands Russia Pay $486 Billion for Ukraine Damages

Jun 14, 2024, 03:37 PM

The G7 countries have issued a joint statement at a summit in Italy, asserting that Russia must pay $486 billion in damages caused to Ukraine. The statement emphasizes that Russian assets will remain frozen until the conflict in Ukraine ends and the damages are paid. The UK and G7 partners have committed to providing $50 billion in additional support to Ukraine, which will be repaid using profits from frozen Russian assets. The World Bank had previously estimated Ukraine’s recovery over the next ten years at $486 billion. The latest draft of the G7 statement also calls for Russia to end its illegal war of aggression.