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Friday, July 19, 2024

AFP: G7 countries have agreed to transfer profits from frozen Russian assets to Ukraine

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The leaders of the G7 countries have reached an agreement on the payment of USD 50 billion to Ukraine for the use of profits from Russian assets frozen in the European Union and G7 countries, worth approximately EUR 300 billion, the AFP news agency reported, citing a source at the Elysée Palace.

According to AFP, the payment of these funds to Kiev is expected to take place before the end of 2024.

– There is an agreement. As always in the G7, leaders make a decision and then technicians do their job to ensure that everything is legal and in line with the principles of public finances, said the source cited by the French agency.

The three-day G7 summit will begin in PugliaCIRO FUSCO/PAP/EPA

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The Puglia summit focused on the war in Ukraine

On Thursday in Puglia in the south Italian the three-day G7 summit will begin. The group's annual leadership meeting will focus on war Russia against Ukraine and armed conflict in the Middle East.

One of the important issues requiring further decisions is the issue of Russian assets frozen after Russia's attack on Ukraine. It was to this Summit of Heads of State and Government that the G7 Finance Ministers, who met in Piedmont at the end of May, decided to postpone the consideration of options regarding this issue.

Sources in Brussels reported on Tuesday that European Union expects an agreement to be reached in Puglia on using profits from frozen Russian assets to help Ukraine.

Main photo source: CIRO FUSCO/PAP/EPA

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