G7 says will try to use frozen Russian assets to help Ukraine

STRESA (Reuters) : The G7 will explore ways of using the future income from frozen Russian assets to help Ukraine, finance chiefs from the Group of Seven industrial democracies said on Saturday, according to a draft statement seen by Reuters.

The G7 froze some $300 billion of Russian assets shortly after Moscow invaded its neighbor in February 2022.

“We are making progress in our discussions on potential avenues to bring forward the extraordinary profits stemming from immobilized Russian sovereign assets to the benefit of Ukraine,” the draft statement said.

The statement will not undergo significant changes before a final version to be released later on Saturday, a G7 source said.