G7 leaders to discuss using frozen Russian assets to help Ukraine: US

G7 leaders to discuss using frozen Russian assets to help Ukraine: US

June 13, 2024, 7:50 a.m.

A senior US government official says Group of Seven countries will look at ways to use frozen Russian assets to provide funding to Ukraine.

The group's members froze the assets using sanctions after Russia invaded its neighbor in 2022.

White House national security spokesperson John Kirby said on Tuesday the matter will be on the agenda of the G7 summit starting on Thursday in Italy.

Kirby said, "I think you're going to see unanimity here at the G7 when it comes to working towards using these frozen assets to help Ukraine with their reconstruction." He said leaders would announce "new steps" to that end.

The G7 countries have already said they are considering using interest earned on frozen Russian sovereign assets.

Kirby said G7 leaders will also announce a new set of sanctions and export controls, targeting entities and networks that are helping Russia procure resources for the invasion of Ukraine.

He added that US President Joe Biden and Ukrainian President Volodymyr Zelenskyy will hold a news conference on Thursday on the sidelines of the summit.

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