G7 ready to use frozen Russian assets: where the funds will go for Ukraine

Financial support for Ukraine and frozen Russian assets

According to ХВИЛЯ: Finance ministers of G7 countries are ready to consider using frozen Russian sovereign assets for financial support to Ukraine. This decision aims to contribute to ending the war and ensuring reparations are paid by Russia. Confirmation of support for Ukraine in defending its territorial integrity was announced in a joint statement after a virtual meeting of the ministers.

Representatives of the World Bank Group and the International Monetary Fund (IMF) participated in the discussion. Issues regarding reforms in combating the informal economy and corruption, as well as the new IMF program for Ukraine, were also discussed. The group emphasized that any steps towards financial support will remain consistent with the relevant legal frameworks.

Pressure on Russia and international support

Moreover, G7 ministers expressed their intention to increase pressure on Russia in the event of failure of peace negotiations. It was noted that the European Union has reduced the loan plan for Ukraine to 105 billion dollars, underscoring the importance of international support during this challenging period for the country.

These initiatives by the finance ministers of G7 countries demonstrate increasing international solidarity with Ukraine, as well as a readiness to utilize available resources to support the country in the context of war. The importance of reforms in combating corruption and the informal economy also highlights the commitment to long-term stable development of Ukraine, which is critically important for the recovery of the economy after the conflict.