G7 leaders agree to use €50 billion of Russian assets for Ukraine's benefit

Rome: The G7 countries have agreed to grant a loan to Ukraine worth 50 billion euros, using the money generated from frozen Russian assets, during the...

Rome: The G7 countries have agreed to grant a loan to Ukraine worth 50 billion euros, using the money generated from frozen Russian assets, during the first day of the summit meeting of the leaders of the groups countries in Italy.

The draft final statement may include support for the US proposal for a ceasefire in Gaza, and support for the two-state solution as a basis for resolving the Palestinian issue. The Group of Seven includes Germany, France, Britain, Italy, Japan, Canada and the United States . The draft final statement scheduled to be issued after the summit said that the groups leaders support the US proposal for a ceasefire in Gaza and the release of the hostages, and reiterate their firm commitment to the two-state solution.

They will also call on the Israeli occupation to refrain from launching a large-scale attack on Rafah "in line with its obligations under international law," and they will also express their deep concern about the situation at the border in southern Lebanon.

As for Russian assets, Ukraine is scheduled to use the loan package to strengthen its military defense against Russia, finance infrastructure reconstruction and finance the Ukrainian state budget.