The G7 reaches a “provisional” agreement to lend Ukraine 46,000 million with frozen Russian assets

The G7, the group of the seven richest democracies in the world, arrived this Thursday a “provisional” agreement to grant Ukraine a loan of about 46,000 million euros which will be financed with the interests generated by the assets of the Central Bank of Russia that are frozen in the European Union (EU), mainly in Belgium.

A source familiar with the group’s internal deliberations has reportedly told the news agency Efe that the negotiators of the countries, known as ‘sherpas’‘, have already reached a “provisional” agreement.

This, however, must still receive formal approval of each of the leaders, gathered from today until Saturday in a luxurious hotel in the Italian region of Apulia (southern Italy), isolated and armored for the occasion. At the moment, no country is expected to block it, not even Germany, which had been reluctant to use the fences. €270 billion in Russian assets estimated to be tied up in Europe.

Presumably, the final agreement will be known this afternoon when the president of Ukraine, Volodymyr Zelenskyparticipate with the group leaders (made up of United States, Italy, Japan, France, Germany, Great Britain and Canada) in a specific session on Ukraine.

In parallel to the summit, it is expected that the American president, Joe Biden, and his Ukrainian counterpart sign a bilateral security agreement. It is also expected that the british prime minister, Rishi Sunakannounce new aid of 242 million pounds (286 million euros).

A message of unity

The president of the European Commission, Ursula von der Leyenwho aspires to repeat his position after the European elections last Sunday, has assured that the objective of the summit is to send “a strong message” of “unit” in “turbulent times.”

“In turbulent times, the strongest message we can send is that of unity. Today the G7 will show unity,” Von der Leyen assured in a message published on her official account on the social network X.