G7 to Retain Frozen Russian Assets, Considers Using Them as Collateral for Ukraine Loans

Apr 18, 2024, 07:30 PM

The Group of Seven (G7) countries have announced their decision to retain Russian assets that have been frozen in response to the conflict with Ukraine. These assets, totaling nearly $300 billion, are being considered for use as collateral to provide loans to Ukraine. This decision was part of a joint statement released following a meeting in Washington, where the G7 also expressed their intention to impose new sanctions against Russia and maintain the asset freeze until Russia compensates for the damages caused during its full-scale invasion of Ukraine.