https://sputnikglobe.com/20240613/meloni-confirms-g7-agreement-on-ukraine-loan-no-confiscation-of-russian-assets-1118937636.html
Meloni Confirms G7 Agreement on Ukraine Loan, No Confiscation of Russian Assets
Meloni Confirms G7 Agreement on Ukraine Loan, No Confiscation of Russian Assets
Sputnik International
Italian Prime Minister Giorgia Meloni on Thursday confirmed that the G7 countries have agreed to provide 50$ billion to Ukraine in loans, but added that Russia’s frozen assets will not be confiscated.
2024-06-13T17:44+0000
2024-06-13T17:44+0000
2024-06-13T17:44+0000
economy
giorgia meloni
maria zakharova
jake sullivan
ukraine
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european union (eu)
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"I confirm that we have reached a political agreement to provide additional financial assistance to Ukraine of about 50 billion dollars by the end of the year through a loan mechanism that will use proftis from Russian assets frozen in our jurisdictions to repay them," Meloni said at the G7 summit in Italy. The prime minister added that confiscation of the assets is not on the table. Earlier it was reported, that the G7 countries have agreed on a loan structure based on the size of their economies to provide about $50 billion in new aid package to Ukraine, using Russia's frozen assets.Under the mechanism to be signed during the G7 summit in Italy, the United States, the European Union and other participants will provide Ukraine with a loan, and the income received from the Russian assets over time will be used to return this money.At the same time, each G7 and EU member that provides loans to Kiev at the expense of the Russian assets will bear risks, the news agency added.Later in the day, the G7 member states finalized a provisional loan deal at the sherpa level, the Financial Times reported on Thursday, citing an agreed G7 statement."It's done. At sherpa level, it is agreed and I do not expect any leaders . . . to block it… There is provisional agreement . . . but, of course, you need formal approval from the G7 leaders," one of the officials familiar with the matter was quoted by the Financial Times as saying.US National Security Adviser Jake Sullivan in turn said G7 leaders would discuss the use of frozen Russian assets at the summit in Italy.Moscow has maintained that any attempts to confiscate Russian assets amount to theft and a violation of international law.Russian Foreign Ministry spokeswoman Maria Zakharova commenting on the development on Thursday said that plans to provide $50 billion in loans to Ukraine using profits from Russia’s frozen assets will not be beneficial for the West, and may result in new economic crises."Such a step will not lead to anything good for the West. Illegal initiatives related to pumping the Kiev regime with money at someone else's expense may result in the final unbalancing of the financial system and devastating crises," Zakharova told a briefing.
https://sputnikglobe.com/20240523/wests-plan-to-seize-russian-assets-legal-loophole-or-theft-1118593293.html
https://sputnikglobe.com/20240520/g7-got-comfortable-stealing-more-russian-assets-after-us-diplomatic-push--reports----1118545087.html
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russian frozen assets, italian prime minister giorgia meloni, g7, financial aid to ukraine
russian frozen assets, italian prime minister giorgia meloni, g7, financial aid to ukraine
Meloni Confirms G7 Agreement on Ukraine Loan, No Confiscation of Russian Assets
MOSCOW (Sputnik) - Italian Prime Minister Giorgia Meloni on Thursday confirmed that the G7 countries have agreed to provide 50$ billion to Ukraine in loans, but added that Russia’s frozen assets will not be confiscated.
"I confirm that we have reached a political agreement to provide additional financial assistance to Ukraine of about 50 billion dollars by the end of the year through a loan mechanism that will use proftis from Russian assets frozen in our jurisdictions to repay them," Meloni said at the G7 summit in Italy.
The prime minister added that confiscation of the assets is not on the table.
"We are certainly not talking about confiscating these assets, but the interest that they generate over time," Meloni said.
Earlier it was reported, that the G7 countries have agreed on a loan structure based on the size of their economies to provide about $50 billion in new aid package to Ukraine, using Russia's frozen assets.
Under the mechanism to be signed during the G7 summit in Italy, the United States, the European Union and other participants will provide Ukraine with a loan, and the income received from the Russian assets over time will be used to return this money.
At the same time, each G7 and EU member that provides loans to Kiev at the expense of the Russian assets will bear risks, the news agency added.
Later in the day, the G7 member states finalized a provisional loan deal at the sherpa level, the Financial Times reported on Thursday, citing an agreed G7 statement.
"It's done. At sherpa level, it is agreed and I do not expect any leaders . . . to block it… There is provisional agreement . . . but, of course, you need formal approval from the G7 leaders," one of the officials familiar with the matter was quoted by the Financial Times as saying.
US National Security Adviser Jake Sullivan in turn said
G7 leaders would discuss the use of frozen Russian assets at the summit in Italy.
Moscow has maintained that any
attempts to confiscate Russian assets amount to theft and a violation of international law.
Russian Foreign Ministry spokeswoman Maria Zakharova commenting on the development on Thursday said that plans to provide $50 billion in loans to Ukraine using profits from Russia’s frozen assets will not be beneficial for the West, and may result in new economic crises.
"Such a step will not lead to anything good for the West. Illegal initiatives related to pumping the Kiev regime with money at someone else's expense may result in the final unbalancing of the financial system and devastating crises," Zakharova told a briefing.
