The G7 leaders have reached an agreement on providing Ukraine with loans worth about $50 billion, the leaders said in a joint statement.
"Today, we, the Leaders of the Group of Seven (G7), have reached a consensus on how to deliver approximately $50 billion in Extraordinary Revenue Acceleration (ERA) loans to Ukraine," according to the statement posted on the Italian government's website.
The G7's loan to Ukraine will be repaid with revenues from Russia's frozen assets "in line with international law," the statement noted.
"These loans will be serviced and repaid by future flows of extraordinary revenues stemming from the immobilization of Russian Sovereign Assets, in line with G7 respective legal systems and international law... Our aim is to begin disbursing the funds by the end of the year," the statement said.
Earlier, Russian Finance Minister Anton Siluanov said that Russia was ready to use the proceeds from the assets of foreign individuals as a symmetrical measure against the actions of the West. According to him, such decisions are already being implemented.