g7
EU members will not be for now directly involved in a $50 billion loan for Ukraine, as they will instead focus on developing the guarantee mechanism, Italian Prime Minister Giorgia Meloni said on June 15. The loan, which was announced during a G7 summit%20leaders,billion%20in%20frozen%20Russian%20assets.) on June 13 with the pledge to deliver it to Ukraine by the end of the year, is backed by revenues from frozen Russian assets. "The loan of about $50 billion has already been announced (and will) be provided by the United States, as well as Canada, the United Kingdom, and probably Japan, withi...
Kyiv Independent (UK)
Ukraine and the Group of Seven (G7) nations must create a mechanism for confiscating $300 billion in frozen Russian assets, President Volodymyr Zelensky said on June 13 during a G7 summit in Italy. "We need to make the states that support terror understand that they will pay for it," the president added. In his address to the meeting of the world's wealthiest democracies, Zelensky urged support for Ukraine's security, defense, recovery, and Kyiv's peace formula and called for a plan to confiscate Russian assets. Leaders of the U.S., Italy, France, Germany, Canada, Japan, the U.K., the EU, and ...
Kyiv Independent (UK)
Ukraine will sign bilateral security agreements with the United States and Japan on the sidelines of the Group of Seven (G7) summit in Italy, President Volodymyr Zelensky said. The summit will be held between June 13-15 in Apulia, a southern region of Italy. At least fifteen guest countries and institutions are expected to attend, in addition to the leaders of G7. Zelensky will join the summit and plans to hold talks with U.S. President Joe Biden, Japanese Prime Minister Fumio Kishida, the prime ministers of Italy, Canada, and the U.K., European Council President, and International Monetary Fu...
Kyiv Independent (UK)
British Prime Minister Rishi Sunak will announce 242 million pounds ($309 million) in aid to Ukraine at the G7 summit in Italy. This funding aims to address urgent humanitarian and energy needs and support long-term socio-economic recovery and reconstruction in Ukraine. Sunak will also prioritize working with international partners to utilize frozen Russian assets, valued at $285 billion in G7 jurisdictions, to provide aid. Nikkei Asia reported on June 11 that the G7 will create a fund to support Ukraine using the income generated from frozen Russian assets. The fund will reportedly be created...
Kyiv Independent (UK)
The G7 has reached an agreement to provide Ukraine with $50 billion by the end of the year using profits from frozen Russian assets, the French presidency said on June 12 in comments reported by AFP. "We have an agreement," a presidency official said, ahead of a G7 summit in Italy, which starts on June 13. On June 11, it was reported the G7 will create a fund to support Ukraine using the income generated from frozen Russian assets, Nikkei Asia reported. The fund will reportedly be created under an international organization such as the World Bank, with contributions in the form of “Extraordina...
Kyiv Independent (UK)
The U.S. is set to announce new sanctions against Russia during this week's G7 summit in Italy, White House spokesman John Kirby said on June 11. In comments reported by Reuters, Kirby also said Washington will be imposing further export controls that would be "impactful" and target entities and networks helping Russia to fight its war in Ukraine. "We're going to continue to drive up costs for the Russian war machine," Kirby said. Western countries have imposed extensive economic restrictions against Moscow over its full-scale invasion of Ukraine, seeking to curb its state revenue and prevent ...
Kyiv Independent (UK)
The Group of Seven (G7) will create a fund to support Ukraine using the income generated from frozen Russian assets, Nikkei Asia reported on June 11. The fund will reportedly be created under an international organization such as the World Bank, with contributions in the form of “Extraordinary Revenue Acceleration” (ERA) loans. G7 leaders plan to announce the initiative in a joint summit in Italy, which starts on June 13. The U.S. has indicated it will provide $50 billion, while the U.K., Canada, and Japan are also considering contributions, Nikkei Asia reported. Japan may channel its support ...
Kyiv Independent (UK)
G7 leaders have still not reached a consensus on a deal to use profits from Russian assets to help Ukraine, AFP reported on June 7. Ukraine's Western partners and other allies froze around $300 billion in Russian assets at the start of the full-scale invasion in 2022. Roughly two-thirds are held in the Belgium-based financial services company Euroclear. While the U.S. proposed seizing Russian assets outright in accordance with their recently passed REPO act, the EU has been more hesitant, fearing legal and fiscal pitfalls of confiscation. Instead, Brussels seeks to use windfall profits generat...
Kyiv Independent (UK)
U.S. President Joe Biden will meet with Ukrainian President Volodymyr Zelensky in Normandy following the commemoration of the 80th anniversary of D-Day, U.S. National Security Advisor Jake Sullivan said on June 4, 2024. "In Normandy, Biden will have the opportunity to meet with President Zelensky and discuss the state of affairs in Ukraine and how we can deepen our support for Ukraine," Sullivan said. "In a few days, he will also have the opportunity to meet with President Zelensky again at the G7 summit in Italy." President Biden flew to France on June 4 to commemorate the 80th anniversary of...
Kyiv Independent (UK)
The G7 finance ministers on May 25 announced "progress" but no concrete deal on how to use future income from frozen Russian assets to help Ukraine, according to a draft statement seen by Reuters and AFP. "We are making progress in our discussions on potential avenues to bring forward the extraordinary profits stemming from immobilized Russian sovereign assets to the benefit of Ukraine," the draft statement to Ukraine per year. Ukraine's Justice Minister Denys Maliuska said that while it is a "good step," the figure is "almost nothing" in the context of the full-scale war. It is unclear what t...
Kyiv Independent (UK)
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