Italian PM: Prospect of unfreezing Russian assets stems from peace negotiations

    WORLD  16 June 2024 - 10:30

    Italian Prime Minister Giorgia Meloni has said that the prospect of unblocking Russian assets is directly linked to the peace process, which will include compensation for Ukraine.

    "The prospect of unfreezing Russian assets directly stems from the peace negotiations, which will tackle one of the issues: who will have to pay for Ukraine’s reconstruction," she said at a press conference after the Group of Seven (G7) summit, according to TASS.

    Thus, Meloni suggested that these funds could be used for such purposes.

    The G7 said in the joint statement that Moscow should pay Ukraine for damage, which the World Bank estimates at $486 billion.

    The joint statement adopted at the G7 summit in Italy says that "with a view to supporting Ukraine’s current and future needs in the face of a prolonged defense against Russia," G7 will launch "Extraordinary Revenue Acceleration (ERA) Loans for Ukraine", in order to make available approximately $50 billion in additional funding to Ukraine by the end of the year.

    The statement says that Russia’s sovereign assets, seized by Western financial institutions, will remain immobilized until Russia ends its special military operation "and pays for the damage it has caused to Ukraine."

    The European Union, Canada, the United States and Japan seized Russia’s assets worth about $300 billion after the start of the special military operation. About $5-6 billion out of this amount is in the United States, but the bulk is in Europe, including in Euroclear in Belgium ($210 billion is held there).

    Caliber.Az

    Subscribe to our Telegram channel


Read also

Germany's FM backs stationing of missiles in country to address Russian threat

22 July 2024 - 18:39

Hungary, Slovakia seek European Commission's intervention in oil transit dispute

22 July 2024 - 18:25

US deploys strategic bombers to Romania for enhanced NATO integration

22 July 2024 - 17:55

US, Japanese, South Korean ministers to discuss growing threats from North Korea

22 July 2024 - 17:41

Lithuanian president appoints new prime minister Instructs to form government

22 July 2024 - 17:08

Israel confirms deaths of hostages held by Hamas PHOTO

22 July 2024 - 18:10
ADVERTS
Video
Latest news

    US political turmoil stalls sanctions relief talks with Iran, says diplomat

    22 July 2024 - 18:57

    Azerbaijan slams EU military aid to Armenia, warns of rising regional tension

    22 July 2024 - 18:41

    Germany's FM backs stationing of missiles in country to address Russian threat

    22 July 2024 - 18:39

    Hungary, Slovakia seek European Commission's intervention in oil transit dispute

    22 July 2024 - 18:25

    Israel confirms deaths of hostages held by Hamas

    PHOTO

    22 July 2024 - 18:10

    Trump’s vice-presidential pick Vance stirs alarm in Europe

    What’s behind the panic?

    22 July 2024 - 18:05

    US deploys strategic bombers to Romania for enhanced NATO integration

    22 July 2024 - 17:55

    US, Japanese, South Korean ministers to discuss growing threats from North Korea

    22 July 2024 - 17:41

    Five presidents, 10 Speakers to attend Iran president-elect's inauguration

    22 July 2024 - 17:37

    Trump vs. Biden: Accelerating or freezing the Ukraine conflict?

    In the footsteps of a real strategy

    22 July 2024 - 17:34

    Iranian leader accuses nations that impose sanctions under false pretenses

    PHOTO

    22 July 2024 - 17:23

    Lithuanian president appoints new prime minister

    Instructs to form government

    22 July 2024 - 17:08

    Azerbaijan’s strategic pivot: Analyzing the impact of new alliance with China

    Baku’s shifting ties: A challenge to Western influence?

    22 July 2024 - 16:54

    Economic impacts of new immigration restrictions

    Caliber.Az on YouTube

    22 July 2024 - 16:45

    US and EU attempt to maintain influence over Armenia through grants, says analyst

    22 July 2024 - 16:40

    Türkiye continues to eliminate terrorists in Syria, Iraq

    VIDEO

    22 July 2024 - 16:27

    Azerbaijani Air Force pilots honing combat skills

    Sky training success/VIDEO

    22 July 2024 - 16:12

    Azerbaijan clears over 1,600 ha of mines, explosive ordnance in liberated lands

    Weekly data

    22 July 2024 - 15:59

    Armenia playing role of pawn in someone else’s game

    Obvious hypocrisy of Yerevan and its patrons

    22 July 2024 - 15:45

    Unpacking Türkiye’s role in Africa

    New partner vs old enmity

    22 July 2024 - 15:31

    Kremlin: NATO military expansion poses threat to Russia

    22 July 2024 - 15:17

    MP: Armenia's state debt exceeds $12 billion

    22 July 2024 - 15:03

    "Insult to American intellect"

    Analyst on democrats’ denial of Biden's health concerns

    22 July 2024 - 14:48

    New Caledonia: Kanaks to continue struggle for independence

    Article by The Diplomat

    22 July 2024 - 14:46

    Western Azerbaijan Community Spokesperson highlights historical injustices

    In webinar with US Global Policy Institute

    22 July 2024 - 14:33

    Baku Initiative Group pledges support to Dutch colonies

    22 July 2024 - 14:18

    Russian pundit: West trying to interfere in South Caucasus affairs through Armenia

    22 July 2024 - 14:03

    German diplomats brace for potential Trump return as Biden bows out of 2024 race

    22 July 2024 - 13:49

    Georgian chairman claims EU funds hidden in opposition support

    22 July 2024 - 13:35

    Armenia receives €10-million defence aid from EU

    22 July 2024 - 13:22

    Russian engineers develop pocket-sized drone suppressor

    22 July 2024 - 13:10

    CEC: Over 1,000 hopefuls keen to join parliamentary race in Azerbaijan

    22 July 2024 - 12:58

    Iranian, Russian navies launch major Caspian Sea drills

    22 July 2024 - 12:46

    Philippines, China reach agreement to ease tensions at disputed shoal

    22 July 2024 - 12:34

    North Ossetia enforces restrictions as over 2,000 trucks wait to cross Russian-Georgian border

    22 July 2024 - 12:21

    Western Azerbaijan Community calls on Armenia to adhere to international law

    22 July 2024 - 12:09

    Harris campaign shatters fundraising records with $47 million surge after Biden’s withdrawal

    22 July 2024 - 11:57

    Armenian political stability at risk due to Biden dependency, says analyst

    22 July 2024 - 11:45

    US, UK launch airstrikes on Yemen's province

    22 July 2024 - 11:33

    Gas explosion rocks alcoholic beverages store in Russia’s Krasnodar

    22 July 2024 - 11:20

All news