The G7 has announced plans to use Russia’s frozen assets to cover Ukraine’s costs incurred due to Russia’s aggression, according to a statement released after an online summit of the group.
The statement emphasizes the G7’s commitment to holding Russia accountable and supporting Ukraine in securing reparations for the damages and losses suffered.
It mentions that Russia’s sovereign assets within G7 countries will remain frozen until Russia compensates Ukraine for the harm caused.
The G7 has instructed its ministers to explore all possible ways to utilize these immobilized assets to aid Ukraine, in alignment with national laws and international regulations.
The statement also aims to counter any misconceptions that time favors Russia or that there are no repercussions for its actions against Ukraine.
The online summit, focusing on Ukraine, commemorated the second anniversary of the conflict’s outset.
The White House intensified its criticism of the Republican Speaker of the House, Mike Johnson, on Friday, accusing him of aiding Iran and Russia by obstructing a vote on a national security bill aimed at providing aid to Ukraine.
According to six sources who spoke to Reuters this week, Iran has supplied Russia with a large number of powerful ground-to-ground ballistic missiles, enhancing military cooperation between the two countries, which are under U.S. sanctions.
Andrew Bates, Deputy White House Press Secretary and Senior Communications Advisor stated in a memo that Iran is “working hard to boost Russia’s capabilities in its war on Ukraine and its attacks on Ukrainian cities.”
