g7
The G7 finance ministers on May 25 announced "progress" but no concrete deal on how to use future income from frozen Russian assets to help Ukraine, according to a draft statement seen by Reuters and AFP. "We are making progress in our discussions on potential avenues to bring forward the extraordinary profits stemming from immobilized Russian sovereign assets to the benefit of Ukraine," the draft statement to Ukraine per year. Ukraine's Justice Minister Denys Maliuska said that while it is a "good step," the figure is "almost nothing" in the context of the full-scale war. It is unclear what t...
Kyiv Independent (CA)
President Volodymyr Zelensky is planning to visit the D-Day commemoration in France and a G7 meeting in Italy in June to ask partners for more military aid, Politico reported on May 22, citing two undisclosed sources. Due to the difficult situation at the front lines, Zelensky canceled on May 15 all of his international events scheduled for the coming days. He reportedly planned to travel to Portugal and Spain at the time. Zelensky's schedule for trips to France and Italy may still change, according to Politico's sources. If the president visits France, he is expected to urge partners to send ...
Kyiv Independent (CA)
The finance ministers of the Group of Seven countries (G7) will support an EU plan to use the revenue from frozen Russian assets to fund Ukraine, Reuters reported on May 16, citing an unnamed Italian treasury official. The ministers are set to meet on May 24, where they will work out the details to come to a final decision before a summit in Italy in June. Ukraine's Western partners and other allies froze around $300 billion in Russian assets at the start of the full-scale invasion in 2022. Roughly two-thirds are held in the Belgium-based financial services company Euroclear. While the U.S. pr...
Kyiv Independent (CA)
The United States is leading talks among the Group of Seven (G7) nations to develop a military aid package to Ukraine worth up to $50 billion, Bloomberg reported on May 3. The potential package would reportedly be funded by the profits generated by accrued interest on frozen Russian assets. Western countries and Kyiv's other partners have immobilized around $300 billion of Russian assets in response to the full-scale invasion of Ukraine, with around $5 billion held in the U.S. The frozen Russian assets, which are predominantly held within the European Union, will generate approximately 5 billi...
Kyiv Independent (CA)
Group of Seven (G7) allies who are wary of confiscating frozen Russian assets outright may support a U.S. proposal to use interest earnings from the funds to aid Ukraine instead, U.S. Treasury Secretary Janet Yellen told Reuters in an April 25 interview. Ukraine's Western partners and other allies froze around $300 billion in Russian assets at the start of the full-scale invasion in 2022. G7 finance ministers are currently discussing ways to convert the Russian funds into financial assistance for Ukraine. Yellen told Reuters that the frozen funds can be used to aid Kyiv without having to be co...
Kyiv Independent (CA)
Deputy Head of the Presidential Office Ihor Zhovkva held a call with the Portuguese prime minister's advisor Jorge Monteiro to discuss the expected bilateral security agreement, the Presidential Office said on April 9. Ukraine has signed bilateral security deals with eight countries, including Finland, the U.K., Germany, France, Denmark, Canada, Italy, and the Netherlands. The agreements are based on a pledge made by the Group of Seven (G7) last July, which aims to bolster Ukraine's ability to resist Russian aggression. Portugal joined the G7's resolution last summer. During the call, Zhovkva ...
Kyiv Independent (CA)
The United States proposed to the Group of Seven (G7) countries that they establish a special-purpose vehicle (SPV) to issue $50 billion in bonds from profits generated by frozen Russian assets and use the proceeds to support Ukraine, Bloomberg reported on March 21. Western countries have immobilized around $300 billion of the Russian central bank's assets since the start of the full-scale invasion. Washington, Brussels, and Kyiv have long discussed legal ways of channeling these funds to aid Ukraine's reconstruction efforts. The SPV would reportedly employ around $280 billion of these funds a...
Kyiv Independent (CA)
Group of Seven (G7) leaders called on third parties to stop providing Russia with material support, naming Iran in their joint statement published on March 15. Iran has been cooperating with Russia on military supplies since the first year of Russia's all-out war in Ukraine in 2022, becoming Russia's key drone provider. In February, Reuters reported that Iran had already sent 400 ballistic missiles to Russia. Ukrainian authorities have not confirmed this claim. "We are extremely concerned about reports that Iran is considering transferring ballistic missiles and related technology to Russia af...
Kyiv Independent (CA)
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