The countries of the European Union will not be directly involved in the $50 billion loan that the G7 countries plan to raise for Ukraine at the expense of proceeds from frozen Russian assets. This was stated by Italian Prime Minister Giorgia Meloni, UNN reports with reference to The Guardian.
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According to her, Europe has already made its contribution by providing guarantee mechanisms for the loan. Maloney also added that the United States, Canada, the United Kingdom, and possibly Japan will also contribute.
"The Group of Seven (Canada, France, Germany, Italy, Japan, and the United States) has already reached a preliminary agreement to use the profits from frozen Russian sovereign assets to finance a $50 billion loan to Ukraine to help counter the effects of Russian aggression.
According to the agreement, a special fund will be set up by the end of the year to receive funds through various external channels to finance the military budget and reconstruction work.