G7 countries have frozen $280 billion of Russian assets and will hold them until Ukraine receives compensation
The G7 countries have frozen $280 billion in Russian assets and promise to hold them until the Russian Federation pays all reparations to Ukraine.
This is stated in the joint statement of the finance ministers and heads of the G7 central banks.
A meeting of the heads of the International Monetary Fund (IMF), the World Bank, the Organization for Economic Cooperation and Development (OECD) and the Financial Stability Board (FSB) was held in Marrakesh. Minister of Finance of Ukraine Serhiy Marchenko was present at the meeting.
The authors of the statement emphasize that Russia has fully paid for the long-term recovery of Ukraine.
Currently, the frozen assets of Russia in the jurisdictions of the G7 countries are estimated at approximately 280 billion dollars, they will remain frozen until the Russian Federation pays for the damage it caused to Ukraine.
– We confirm our unwavering support for Ukraine and are united in our condemnation of Russia’s illegal, unjustified and unprovoked war of aggression against Ukraine, – the G7 finance ministers and central bank heads said in a statement.
Also, the G7 countries will continue to impose sanctions against Russia so that the aggressor country does not have the ability to wage war. The G7 will continue to monitor cross-border transactions between Russia and other countries, as well as monitor price restrictions on Russian crude oil and oil products.
According to the calculations of the Ministry of Environmental Protection and Natural Resources, as of April 2023, Russia has caused damage to Ukraine’s environment to the tune of almost UAH 2 trillion.