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G7 summit: leaders agree on a 47 billion euro loan to Ukraine
Meeting in Italy, at the G7 summit, the main Western leaders reached an agreement for a loan of 47 billion to kyiv, Thursday June 13. This will be financed thanks to the freezing of Russian assets.
(France 2)
Meeting in Italy, at the G7 summit, the main Western leaders reached an agreement for a loan of 47 billion to kyiv, Thursday June 13. This will be financed thanks to the freezing of Russian assets.
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.
