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G7 nations, including Canada and the UK, back using up to $300B in frozen Russian assets to fund Ukraine’s needs starting in 2026.
Canada and the UK have joined the EU in backing a plan to use up to $300 billion in frozen Russian assets held by G7 nations to support Ukraine, primarily through loans funded by interest and profits from the assets.
The EU is close to finalizing a political agreement, aiming to disburse funds starting in Q2 2026 to aid Ukraine’s military and economic needs, including arms purchases amid concerns over potential U.S. aid fees under a future Trump administration.
The UK has frozen £25 billion ($33.3 billion), and the EU holds about €200 billion ($232 billion), mostly via Belgium’s Euroclear.
Legal risks remain, prompting talks on insurance and guarantees.
G7 finance ministers will discuss the plan at IMF meetings, alongside new sanctions targeting Russia’s energy sector and facilitators of its exports.
Las naciones del G7, incluidos Canadá y el Reino Unido, volverán a usar hasta $300 mil millones en activos rusos congelados para financiar las necesidades de Ucrania a partir de 2026.