G7 nations to issue loans using interest from seized Russian funds

G7 nations to issue loans using interest from seized Russian funds


© FRANCE 24

Leaders of the Group of Seven wealthy democracies have agreed to engineer a $50 billion loan to help Ukraine in its fight for survival. Interest earned on profits from Russia’s frozen central bank assets would be used as collateral. Details of the deal were being hashed out by G7 leaders at their summit in Italy. The money could reach Kyiv before the end of the year, according to US and French officials who confirmed the agreement before a formal announcement. FRANCE 24’s Philip Turle reports.