G7 loan from Russian assets not ‘substitute for full confiscation,’ ex

Details: Written by: Dominic Culverwell; 20.Jun; Hits: 88

The new Group of Seven (G7) plan to fund Ukraine using profits from frozen Russian assets is a “breakthrough,” but Ukraine’s goal is still to seize the full worth of the assets, said experts speaking at a panel event in Kyiv discussing Russian asset seizure on June 17.

The Kyiv Independent

The Kyiv Independent is Ukraine’s fastest-growing English-language media outlet, created in November 2021, just three months before the full-scale Russian invasion of Ukraine.

Serve as the bridge between Ukraine and the world, delivering reliable news, context, and on-the-ground reporting.

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“This money will obviously help Ukraine survive,” said Andrii Mikheiev, an international law and anti-corruption expert at the advocacy NGO International Center for Ukrainian Victory. “But as for justice and as for reconstruction, I don't think we're talking about an amount of money that would be enough.” The G7 leaders confirmed on June 13 a plan to provide Ukraine with a $50 billion loan by the end of the year, repaid using interest from approximately $300 billion of Russian Central Bank assets frozen after the invasion in 2022. 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 pose for a family photo during a welcome ceremony on day one of the 50th G7 summit at Borgo Egnazia in Fasano, Italy on June 13, 2024.

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https://kyivindependent.com/g7-loan-from-russian-assets-not-substitute-for-full-confiscation-experts-say/

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