G7 plans $50 billion loan to Ukraine funded by frozen Russian assets

The G7 is working to finalize a $50 billion loan to Ukraine, which will be repaid using profits from frozen Russian assets. This plan marks a significant escalation in the economic conflict between the West and Russia. The loan will primarily come from EU nations, contributing $35 billion. Canada, the UK, and Japan support the initiative, while the U.S. is cautious about the potential unfreezing of Russian funds. To address U.S. concerns, the EU plans to extend the freeze on Russian assets for three more years. This move aims to ensure the loan can be repaid without releasing the funds back to Russia.