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War in Ukraine: the G7 announces a loan of 47 billion euros to kyiv
An agreement for a loan of 47 billion euros to Ukraine was reached at the G7 on Thursday June 13. It will be repaid thanks to the interest generated by Russian assets frozen since the start of the war.
(France 2)
An agreement for a loan of 47 billion euros to Ukraine was reached at the G7 on Thursday June 13. It will be repaid thanks to the interest generated by Russian assets frozen since the start of the war.
Making Moscow pay to finance aid to Ukraine is what the G7 leaders have just announced to Volodymyr Zelensky, President of Ukraine. Their idea: lend kyiv 47 billion euros, an enormous sum obtained through a mechanism linked to Russian assets. Since the start of the war, the financial products of the Russian central bank placed in the West have been confiscated. Their amount: 300 billion euros. These assets generate profits, around 3 billion euros per year, which would repay the loan to kyiv. On the other hand, there is no question of touching Russian assets themselves, that would be illegal.
But the contours of this agreement remain unclear. Who will guarantee this debt, the Europeans or the United States? The other unknown concerns the outcome of the conflict. In the event of a ceasefire, assets would no longer be frozen. Finally, what will be Moscow’s reaction? Vladimir Putin, President of Russia, recently ordered the confiscation of American assets in Russia. He could also attack European interests.
