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Family mug shot. Finance ministers and central bank governors pose at the G7 Finance Ministers Meeting, May 24, 2024 © AFP / Gabriel Bouys
"We are discussing potential schemes to bring forward the extraordinary revenues stemming from immobilized Russian sovereign assets to the benefit of Ukraine," the draft communique reads. "We reaffirm that, consistent with our respective legal systems Russia's sovereign assets in our jurisdictions will remain immobilized until Russia pays for the damage it has caused to Ukraine."
The move comes after the US pushed for the G-7 to leverage future revenue generated from about $280 billion in Russian central bank funds, most of which lies immobilized in Europe. The plan could unlock an aid package of as much as $50 billion for Ukraine.
by Cat on Sat May 25th, 2024 at 01:07:18 AM EST
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