The G7 nations have agreed to provide a $50 billion loan to Ukraine, funded by profits from frozen Russian assets.
Gatekeepers News reports that Italian Prime Minister Giorgia Meloni announced the agreement, stating that the funds would be used to support Ukraine by the end of the year.
The frozen Russian assets, worth $325 billion, were seized by the US and its allies following Russia’s invasion of Ukraine in 2022.
US President Joe Biden emphasized the significance of the agreement, saying it would “put that money to work for Ukraine and send another reminder to Putin that we’re not backing down.” He added that the US would continue to support Ukraine “until they prevail in this war.”
In addition to the loan, Biden signed a 10-year security deal with Ukrainian President Volodymyr Zelensky, pledging US military and training aid to Ukraine. The agreement aims to support Ukraine’s defense systems, economic recovery, and energy security.
However, Russian foreign ministry spokesperson Maria Zakharova warned of “extremely painful” retaliatory measures in response to the G7 decision.
