G7 leaders decided to pay $50 billion. Ukraine as part of a loan secured by frozen Russian assets. – This indicates that Putin will pay for the damage he caused – commented the President of the European Commission, Ursula von der Leyen.
Vladimir Putin spoke about this on Friday. The Russian dictator said that Western countries are trying to find a “legal basis” to justify the use of Russian assets.But despite all the tricks, theft is still theft and will not go unpunished“.
The case concerns the assets of the Russian Central Bank, frozen after the invasion of Ukraine, and stored in European banks. Von der Leyen said Thursday evening that The G7 finance ministers are now determining the details regarding, for example, the issue of loan guarantees The mentioned Russian means.
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A long road to rebuilding Ukraine after the Russian attack
Following Russia’s invasion of Ukraine in February 2022, the G7 and EU countries froze more than €250 billion of the assets of the Russian Central Bank. In addition, private assets of Russians were seized, including real estate and yachts owned by a minority of Vladimir Putin’s circle.
However, the confiscation raises suspicions under international law. That’s why Western countries want it Transferring interest from frozen Russian assets to Kiev, which could reach 3 billion euros annually.
Russian assets will remain frozen until Russia pays for the damage to Ukraine, G7 finance ministers have confirmed. The World Bank estimates that the cost of rebuilding Ukraine will amount to about $500 billion.
On Friday morning, Radoslaw Sikorski, head of the Foreign Ministry, said the G7 leaders’ decision was “a big step in the right direction.” “This is the main decision. The West must continue to support Ukraine with what is necessary – weapons and reconstruction funds” – wrote on the X platform.
The Group of Seven includes: the United States, Canada, Great Britain, Germany, Japan, Italy, France, in addition to the European Union.
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