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G7 so far has no decision on use of frozen Russian assets

Countries will continue discussions

TOKYO, July 25. /TASS/. The G7 countries have not yet made a decision on the issue of using frozen Russian assets to support Ukraine, Japanese Finance Minister Shun'ichi Suzuki told reporters.

"No decision was made this time. We will continue discussions," the Kyodo news agency quoted him as saying after the meeting of the heads of the finance ministries and central banks of the G7 countries in Rio de Janeiro.

The European Union, Canada, the United States and Japan have frozen about $300 billion in Russian assets after the start of the special military operation. Of these, about $5-6 billion are in the United States, and most of them are in Europe, including on the international platform Euroclear in Belgium ($210 billion are stored there). The leaders of the G7 countries at a summit in Italy on June 13 reached an agreement on the allocation of $50 billion to Ukraine at the expense of profits from frozen Russian assets until the end of 2024.

Russian President Vladimir Putin said on June 14 that by stealing Russian assets, the West is "taking another step toward destroying the system they themselves created, which for many decades ensured their prosperity and allowed them to consume more than they earned." According to him, "it is becoming clear to all countries and companies, sovereign funds, that their assets and reserves are far from safe both in the legal and economic sense.".