White House Unveils Details of G7 Strategy to Use Russian Assets

The White House on June 14 outlined some of the technical details of the plan agreed by Group of Seven (G7) leaders to grant loans to Ukraine using frozen Russian sovereign assets. “Every G7 country is going to do its part,” a senior administration official said during a call with reporters. “Some countries are going to contribute to the loan. Others will contribute to the repayment. Others still will provide guarantees of repayment if the income flow isn’t sufficient to service and repay the loan in full.” The G7 leaders on June 13 announced that they had struck an agreement to unlock some $300 billion worth of Russian assets, which will be utilized to support Ukraine during the continuing war with Russia and the reconstruction....