G7 negotiators have reached a deal to use profits from frozen Russian sovereign assets to help Ukraine in a bid to shore up support for Kyiv while they grapple with a barrage of domestic political difficulties.
A deal on a scheme for G7 members to provide “approximately $50bn” to Ukraine backed by the future proceeds from Russian assets was struck by G7 officials, two people involved in the talks told the Financial Times. The financial aid is set to be the centrepiece of the group’s annual summit in the southern Italian region of Puglia.
Details over its design — including who would bear the ultimate risk of the loan to Ukraine, and how the money would be distributed — were not specified in the agreed statement.
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