US and Ukraine’s EU allies rush to agree deal on Russian assets ahead of G7

Thorny issues remain as Washington tries to overcome scepticism in Western capitals.

Rome, Italy – US officials are trying to get European allies on board for a deal to present at the G7 leaders summit later this week on how to use the interest from Russian frozen assets to support war-torn Ukraine. But with the meeting in southern Italy starting on Thursday, discussions are still ongoing.

Some European countries are not yet fully convinced over the United States-led proposal, diplomatic sources told Al Jazeera.

Western allies immobilised about $260bn of Russian sovereign assets soon after Russia ordered the invasion of neighbouring Ukraine in February 2022. Most of that money is in the European Union.