Photo: (L-R) European Council President Charles Michel, German Chancellor Olaf Scholz, Canadian Prime Minister Justin Trudeau, French President Emmanuel Macron, Italian Prime Minister Giorgia Meloni, U.S. President Joe Biden, Japanese Prime Minister Fumio Kishida, British Prime Minister Rishi Sunak and European Commission President Ursula von der Leyen
Group of Seven (G7) leaders reached an agreement on June 13 to utilize frozen Russian assets in their continued support of the war in Ukraine.
The G7 will provide Ukraine with a loan using frozen Russian assets as collateral. The total sum is unclear at this time, but the United States has committed $50 billion alone. The risk will be shared among the other G7 nations.
Senior Biden administration officials told reporters that the loan will begin this year, and emphasized that this effectively makes Russia pay for the loan rather than the taxpayers in the United States and G7 countries.
“Russia pays,” said one senior administration official. “The income comes from the interest stream on the immobilized assets, and that’s the only fair way to be repaid. The principle is untouched for now. But we have full optionality to seize the principal later if the political will is there.”
Ukrainian President Volodymyr Zelenskyy, in a post on X, had expressed hope that the asset deal would be finalized on June 13.
“The entire Ukrainian people, including our warriors, see that the G7 will always support Ukraine,” he wrote. “I am grateful to our partners for their belief in us and our victory.”
In the run-up to the crucial summit, the G7 finance ministers held discussions about the legality of using some $300 billion worth of frozen assets kept in European accounts as collateral for providing a loan to Ukraine for reconstruction. France was believed to be the main holdout on the plan.
President Joe Biden mentioned before leaving France last week that he had reached an agreement with Mr. Macron on a plan to use the frozen Russian assets.
1 thought on “G7 Leaders Reach Deal to Unlock Frozen Russian Assets for Ukraine – The Epoch Times”
Our own State Department pushed the corruption of Ukraine as Biden used his pressure to stop the investigation of Berisma Gas Company which was paying him $83,000 per month. Everyone has seen the video of Biden bragging about withholding 1 Billion in American Aid if the prosecutor was not fired; and he was!
That by itself is proof of the Biden-Hunter money machine at work.
As for the Ukraine war, a President Trump would have forced Russia and Ukraine into a compromise peace agreement avoiding the war before it started. Note our State Department has been filled with pro Communists since the early 1940’s.
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