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The G7 Group and the European Union are discussing a plan to use more than $250 billion in frozen Russian central bank assets as collateral to help finance Ukraine’s reconstruction.
This was reported by Bloomberg.
A discussed plan suggests that Ukraine’s allies could issue debt obligations to finance Ukraine’s reconstruction, using frozen Russian assets as collateral to repay the debt.
Proponents of the plan believe that any settlement of the conflict under international law would require Russia to compensate for the damage it has inflicted on Ukraine. According to the agency’s sources, if Russia refuses to do so, claims may be put forward for its immobilized assets.
Discussions are currently only at a technical level, hence, a political decision has not yet been formed yet. Also, Blomberg’s sources claim some countries are willing to move faster than others.
Earlier, the Group of Seven countries promised to make Russia pay for the restoration of Ukraine and keep its assets frozen until it happens.
Read also: Ukraine almost reaches pre-war export numbers – Ministry of Economy
