Source: New York Times
“The Group of 7 nations finalized a plan to give Ukraine a $50 billion loan using Russia’s frozen central bank assets, Biden administration officials said on Wednesday. … The United States and the European Union enacted sanctions to freeze Russia’s central bank assets, most of which are held in Europe, after its invasion of Ukraine in early 2022. As the war dragged on, officials in the United States pushed for the funds to be seized and given directly to Ukraine to aid in its economic recovery. European officials had concerns about the lawfulness of such a move, however, and both sides eventually agreed over the summer that they would use the interest that the assets were earning to back a $50 billion loan.” (10/24/24)
https://www.nytimes.com/2024/10/23/business/g7-ukraine-loan-russian-assets.html