G7 leaders have reached an agreement “on the disbursement of $50 billion” to Ukraine through the use of frozen Russian assets. The French presidency announced this, explaining that this disbursement will take place “by the end of 2024.” “There is an agreement. As is always the case in the G7, the leaders make a decision and then the technicians work to put it in shape” and make sure that it “complies with the law”, “with the rules of public finances” or even “with mutual financial capabilities,” they explained from the same source. .
The Elysee stressed that “this is an American initiative in the beginning.” He explained that this loan will be repaid from the proceeds of frozen Russian assets. He added: “But if the freeze on Russian assets is lifted for one reason or another, or if profits from Russian assets no longer produce what is required to finance the loan, the issue of burden sharing will arise.” The Elysee said: “We have established the principles of this distribution, and now the technicians must agree on the contract that will eventually be signed,” considering that this agreement is “very important.” One issue, for example, is knowing what the collateral is for this loan “which is essentially American, but could be combined with European funds or national contributions.”
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