G-7 Closing In on US-Led Push to Tap Frozen Russian Assets
- American plan would unlock as much as $50 billion for Kyiv
- Group of Seven leaders will discuss the proposal in June
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The Group of Seven countries are converging on a US plan to squeeze value out of frozen Russian assets, a move that would secure as much as $50 billion in critical financing for Ukraine and help shield it from political shifts on both sides of the Atlantic.
Officials familiar with the discussions say G-7 governments are all now broadly supportive of a US proposal to leverage future revenue generated from about $280 billion in Russian central bank funds — most of which lies immobilized in Europe — to back the massive loan to Kyiv.