G7 to allow use of proceeds from immobilised Russian assets to provide loan to Ukraine
BancaMarch : G7 members have reached a (tentative) agreement that would allow the use of proceeds from frozen Russian assets to provide a $50 billion loan to Ukraine. Russia’s frozen assets worldwide amount to $300 billion, however, this amount cannot be used, but the interest – some $3 billion – generated annually can be used. Thus, future profits are established as collateral for the $50 billion loan. The deal would…