G7 countries finalize work on allocating $50 bln to Kyiv using proceeds from Russian assets – Blinken

20:53, 26.11.2024 1 min read

The Group of Seven countries have moved to the final stage of work to allocate $50 billion to Ukraine using proceeds from frozen Russian assets, U.S. Secretary of State Antony Blinken said on Tuesday.

At a press conference following the G7 ministerial meeting Blinken said as part of the U.S. support for Ukraine, they are also finalizing the process of allocating $50 billion, which is secured on the basis of frozen Russian sovereign assets.

He said the United States recently imposed new sanctions against Russia, in particular against Gazprombank.

Blinken said he also expects further similar actions from the G7.

In June, participants in the G7 summit in Italy reached a political agreement on using proceeds from frozen Russian assets to help Ukraine. The talks were about providing Kyiv with loans of $50 billion by the end of 2024.