G7 may use Russian asset profits to fund Ukraine
US asks European governments to agree money should back $50 billion loan
Governments of the Group of 7 advanced economies are considering using profits from frozen Russian state assets to finance Ukraine, the Financial Times has reported.
US president Joe Biden’s administration is strongly advocating using the funds to back a $50 billion loan to Ukraine, the FT reported on May 19. Under the plan, the G7 countries would loan Ukraine up to $50 billion as early as this summer, backed by the profits on Russian assets.
The G7’s finance ministers and central bank governors
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