The G7 agrees to grant Ukraine a loan of 46.5 billion euros financed with frozen Russian assets

June 13. () –

G7 leaders have agreed to grant Ukraine a loan of $50 billion (€46.5 billion) financed with interest on Russian assets frozen by sanctions to contribute to Ukrainian recovery.

“I confirm that we have reached a political agreement to provide Ukraine with additional financial support of around $50 billion before the end of the year,” said Italian Prime Minister Giorgia Meloni.

In this sense, she said she was “particularly proud” of the agreement they have reached. “Now we will have to define it from a technical point of view,” she said after the first day of the summit, held in the Italian city of Apulia.

German Chancellor Olaf Scholz has described the agreement to support Ukraine with $50 billion as a “historic step.” “Putin has a plan: he wants to push the war until everyone stops supporting Ukraine,” he said on the social network X.

The president of the European Commission, Ursula von der Leyen, has also reacted to the announcement. “This is based on EU action, where we are redirecting these benefits to the defense and reconstruction of Ukraine,” he noted.

BILATERAL MEETINGS

The Ukrainian president, Volodimir Zelenski, met this Thursday with Meloni, as well as with the prime ministers of Canada and the United Kingdom, Justin Trudeau and Rishi Sunak, respectively, in Borgo Egnazia, a luxury resort located in Apulia.

The president has signed two important security agreements with the president of the United States, Joe Biden, and with the Japanese prime minister, Fumio Kishida. “Japan will provide Ukraine with $4.5 billion and will continue to support us throughout the 10-year period of the agreement,” he said.

Regarding the agreement signed with his American counterpart, Zelensky has indicated that it includes “a detailed and legally binding part that guarantees the reliability of the United States’ support” for the independence of Ukraine.

The agreement addresses “Russia’s responsibility” for the war “and its attempts to destroy the Ukrainians.” “The United States supports fair compensation for damage caused by Russian attacks and efforts to allow the use of frozen Russian assets to protect and rebuild Ukraine,” she added.