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Ukraine. Russian assets for Kiev. Germany gave consent

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Germany are open to use proceeds from frozen Russian assets to aid in the war effort Ukrainy – said anonymous sources in the local Ministry of Finance on Wednesday, quoted by Reuters.

Earlier on Tuesday, Bloomberg reported on this possibility. The agency reported that Germany is getting closer to supporting the planwhich they have been pushing for for a long time United Stateswhich assumes reinforcement of Ukraine and its army fighting against the Russian aggressor an amount of approximately USD 50 billionderived from the interest earned by frozen Russian assets, managed largely by European institutions.

Ukraine. Kyiv with Russian money? In the background, Germany's consent

On Friday, a senior U.S. Treasury Department official was reported to have said that the U.S. Treasury Secretary Janet Yellen will press the countries' finance ministers on this matter G7 – i.e. representatives of countries with “strong” economies – at the meeting Italy. Additionally, the Ukrainian Minister of Finance is to take part in it.

If these reports were true, this would be it a groundbreaking step in this matter. So far, the German government has been skeptical about American plans to use frozen Russian assets to help Ukraine.

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The Secretary of State talked about the plan last week Antony Blinken declared that United States they intend to use the seized Russian assets to transfer them to the reconstruction of Ukraine, to which Congress has already consented. – Russia should and must pay for the reconstruction what Putin destroyed – he said during his visit to Kiev.

A potential agreement is expected to be reached at the G7 summit June 13-15.

Russian assets for Ukraine. The talks have been going on for weeks

After Russia invaded Ukraine in early 2022, the G7 countries froze Moscow's assets worth approximately EUR 280 billion.

Most of this sum, EUR 200 billion, is deposited in EU banks – of which EUR 191 billion is managed by Euroclear, an international financial institution based in Brussels.

For several months, G7 representatives have been discussing how to best use Russian assets.

Sources: Reuters, Bloomberg

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