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G7 may create special fund for frozen Russian assets — Kyodo

According to the news agency, the G7 leaders expect to agree on the creation of such a fund at the summit in Italy on June 13-15

TOKYO, June 11. /TASS/. The leaders of the G7 countries plan to agree on the creation of a special fund into which frozen Russian assets will be directed, the Japanese agency Kyodo reported.

According to the news agency, the G7 leaders expect to agree on the creation of such a fund at the summit in Italy on June 13-15.

On May 20, the Financial Times newspaper reported citing sources that the United States is convincing the G7 countries to provide Ukraine with a loan secured by income from Russian assets. If approved, Kiev could receive $50 billion. Germany, Italy, France and Japan opposed the American plan. However, their attitude began to change under pressure from Washington, which wants to agree on such a plan at the G7 summit and include a provision on the use of income from Russian assets in a joint statement following the meeting.

The EU, US, Japan and Canada seized Russia's assets in the amount of about $300 billion after the start of the special military operation. Of this, about $5-6 billion is located in the United States, and most of it is in Europe, including the Euroclear international platform in Belgium ($210 billion is stored there). Earlier, the European Commission approved a proposal to use proceeds from seized Russian funds to provide assistance to Kiev. The US Congress approved a package of bills on providing military assistance to Israel, Taiwan and Ukraine, as well as on the confiscation of frozen assets of Russia for their actual transfer to Kiev.

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