June 13, 2024 9:07 PM

G7 to lend Ukraine $50 Billion Using Frozen Russian Asset Funds

In Italy, G7 member countries have agreed to lend Ukraine 50 billion dollars using money generated from frozen Russian assets.   Ukraine is to use the loan package to strengthen its military defence against Russia, pay for the reconstruction of infrastructure, and fund Ukraine's state budget.   The US government said, that around 280 billion dollars of Russian central bank money has been immobilised in Western countries due to sanctions imposed.   The bulk of the money...