G7 prepared a communique on use of frozen assets of Russian Federation

11:09 - 27.05.2024

May 27, Fineko/abc.az. G7 has stressed progress in negotiations on the use of proceeds from frozen Russian assets to assist Ukraine.

ABC.AZ reports that this is stated in the communique adopted following the meeting of G7 finance ministers and heads of central banks, held in the northern city of Stresa.

"In continuation of G7 leaders’ statement on February 24, 2024, we are making progress in discussing the possibilities of using the proceeds from frozen Russian sovereign assets for the benefit of Ukraine in accordance with international law and our legislative systems in order to present options for providing additional financial support to Ukraine ahead of the June summit in Puglia," the document says.

The communique emphasizes that Russian assets in the jurisdictions of the G7 countries "will remain frozen until Russia pays for the damage caused to Ukraine". In addition, the authors of the document "welcomed the EU's decision to direct significant profits from frozen Russian assets" to help Kiev.