Leaders of G7 to agree on $50 billion credit for Ukraine during summit - Bloomberg
Photo: Ukraine can get a $50 billion loan (Getty Images)
Leaders of the Group of Seven (G7) countries during the summit on June 13-15 will agree on a $50 billion credit for Ukraine using the proceeds from frozen Russian assets, reports Bloomberg.
An unnamed official from the Élysée Palace told Bloomberg that technical details for such a credit will still need to be worked out after the G7 summit.
According to Bloomberg's sources, some more time may be needed for the final decision on the credit.
Journalists specify that the $50 billion credit for Ukraine is intended to be allocated by the end of 2024.
It's worth noting that today, June 12, US National Security Advisor Jake Sullivan mentioned that discussions on the $50 billion for Ukraine have made significant progress.
What preceded
On May 24, it was reported that finance ministers of G7 countries were discussing a credit for Ukraine using the proceeds from frozen Russian assets.
Later, the Financial Times reported that the US was ready to provide Ukraine with a $50 billion loan in this format. However, for this to happen, the European Union had to indefinitely extend sanctions against Russia. Currently, the bloc renews sanctions every six months.
This initiative will be discussed during the negotiations among the leaders of the Group of Seven at the summit in Apulia, Italy, which begins tomorrow, June 13.
