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G7 adopts US$50 billion loan for Ukraine at expense of Russian assets, France says

Wednesday, 12 June 2024, 23:27
G7 adopts US$50 billion loan for Ukraine at expense of Russian assets, France says
The flags of the G7 countries. Stock photo: Getty Images

The leaders of the G7 member states have reached an agreement concerning the allocation of US$50 billion for Ukraine through the use of frozen Russian assets.

Source: the Elysee Palace on the evening of 12 June, as reported by European Pravda with reference to the AFP agency

Details: The administration of the French president reports that Ukraine will receive the loan by the end of 2024.

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Quote: "There is an agreement. As always in the G7, the leaders adopt decisions, and then technical experts do their job to shape them."

The decision is expected to be officially adopted at the G7 Summit on 13-14 June, after which the countries will have to outline the technical aspects of its implementation.

This is about the proposition of the US, which provides for a US$50 billion loan for Ukraine from the G7 to be paid using the income received from Russia’s frozen assets.

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Earlier, the EU made an alternative proposal under which it would provide a loan for Ukraine itself, using its seven-year €1.2 trillion budget as a deposit.

Last week, the EU member states failed to decide which of these proposals to support.

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