Russia must pay Ukraine 486 billion dollars in compensation for the damage caused. The "Big Seven" countries are currently evaluating legal ways of recovering these funds from the aggressor country.
"Russia must stop its illegal war of aggression and pay for the damage caused to Ukraine. According to the World Bank, this damage already exceeds 486 billion dollars. Russian assets in the West will remain frozen until the conflict ends and the specified amount is paid to Kyiv. The G7 countries are also ready to provide Ukraine with a $50 billion loan, which will be repaid from the proceeds of frozen Russian assets," the statement said.
The G7 leaders promise to keep up the pressure on the Russian Federation's profits from the trade in energy and raw materials, emphasizing Kyiv's unwavering support and promising to continue providing military, financial and humanitarian aid.
At the G7 summit in Italy, the leaders agreed to provide Ukraine with about 50 billion US dollars by the end of the year. The funds will be serviced and repaid through future earnings from frozen Russian assets located in the EU and other jurisdictions.
It was previously reported that G7 representatives are still working on finalizing the details of the use of proceeds from Russia's frozen assets, which they hope will be one of the main outcomes of the summit.
The head of the European Commission, Ursula von der Leyen, said during the Ukraine Recovery Conference in Berlin on June 11 that Ukraine will receive the first funds from this fund in July.
