G7 wants Russian compensations for Kyiv before unfreezing assets

BRUSSELS, Jul 12 (PRIME) -- The Group of Seven leading industrial nations (G7) is ready to work on the mechanisms that will leave Russia’s assets frozen until Moscow compensates the damage inflicted on Ukraine during the military operation, the G7 said in a joint declaration on Wednesday.

“We reaffirm that, consistent with our respective legal systems, Russia’s sovereign assets in our jurisdictions will remain immobilized until Russia pays for the damage it has caused to Ukraine. We recognize the need for the establishment of an international mechanism for reparation of damages, loss or injury caused by Russian aggression and express our readiness to explore options for the development of appropriate mechanisms,” the declaration read.

Other countries can join the G7’s framework program for support of Ukraine that includes elements like provision of modern military equipment, training, intelligence sharing, and cyber defense.

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