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G7 Agrees $50 Billion Loan For Ukraine Using Russian Assets

G7 Agrees $50 Billion Loan For Ukraine Using Russian Assets


On the evening of June 12, the Elysee Palace reported that the leaders of the G7 countries reached an agreement on the allocation of $50 billion for Ukraine using frozen Russian assets.

According to the French president's office, Ukraine will receive a loan by the end of 2024, writes European Pravda citing the AFP agency.

“There is an agreement. As always in the G7, the leaders make the decision and the technicians then do their job to shape it,” said a representative of the Elysee Palace.

The decision is expected to be formally approved at the G7 summit on June 13-14, after which countries will have to determine the technical aspects of its implementation.

Recall, that there was a proposal from the United States, providing that the G7 will provide Ukraine with a loan of $50 billion, which will be paid at the expense of income received from frozen assets of Russia.

Earlier, the European Union put forward an alternative proposal, according to which it would provide a loan to Ukraine, using its seven-year budget of 1.2 trillion euros as collateral.

Last week, EU states did not make their choice.

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