Russian oligarchs, financial company lose appeal against EU sanctions
Russian oligarchs Gennady Timchenko and Mikhail Fridman and Russia's National Settlement Depository on Sept. 11 lost their appeal against EU sanctions imposed against them.
Russian assets
G7 to finalize plan by October on $50 billion loan for Ukraine backed by Russian assets revenue
The Group of Seven (G7) will likely finalize a framework agreement for a $50 billion loan for Ukraine backed by frozen Russian assets revenue by October, EU Economic Commissioner Paolo Gentiloni said on July 25.
Japan to reportedly cover $3.3 billion of G7 loan to Ukraine
The sum, which Ukraine hopes to receive by the end of the year before a potential return of Donald Trump to the White House, includes a $20-billion pledge by the U.S. and the EU each, Kyodo News wrote.
Saudi Arabia issued vague threats to G7 against seizing frozen Russian assets, Bloomberg reports
Saudi officials reportedly made "veiled threats" to Group of Seven (G7) nations hinting that the kingdom would sell some European debt holdings if Western allies seized about $300 billion in frozen Russian assets, Bloomberg reported on July 9, citing its sources.
Ukraine to receive profits from Russia's frozen assets in 2 tranches starting next week, Borrell says
"We have a process in order to make this work quickly. The first tranche of money will come next week, in July. The second will come some months later," Josep Borrell said during the press briefing in Luxembourg.
Ukraine Business Roundup — Russian assets for Ukraine
The following is the June 19, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. The Group of Seven (G7) leaders confirmed on June 13 a plan to provide Ukraine with a $50
G7 loan from Russian assets not ‘substitute for full confiscation,’ experts say
The new Group of Seven (G7) plan to fund Ukraine using profits from frozen Russian assets is a “breakthrough,” but Ukraine’s goal is still to seize the full worth of the assets, said experts speaking at a panel event in Kyiv discussing Russian asset seizure on June 17. “This
G7 confirms agreement on $50 billion loan for Ukraine backed by Russian assets revenue
The loan should be repaid using interest from some $300 billion in frozen Russian assets.
Zelensky at G7 summit: We need mechanism for confiscating $300 billion in Russian assets
"We need to make the states that support terror understand that they will pay for it," President Volodymyr Zelensky said on June 13 during a G7 summit in Italy.
G7 agrees on transfer of $50 billion in profits from frozen Russian assets to Ukraine
"We have an agreement," a French presidency official said, ahead of a summit in Italy, which starts on June 13.
Media: G7 to create Ukraine aid fund using income from frozen Russian assets
A final agreement on the issue is expected at a G7 summit in Apulia, Italy, on June 13-15, which President Volodymyr Zelensky will attend.
Von der Leyen: Ukraine to receive 3.4 billion euros from EU this summer
Ukraine will receive 1.5 billion euros ($1.6 billion) in Russian frozen assets revenue in July and 1.9 billion euros ($2 billion) under the Ukraine Facility already this month, European Commission President Ursula von der Leyen said on June 11.
Biden, Macron reach agreement on using profits from frozen Russian assets for Ukraine
U.S. President Joe Biden announced on June 9 that he had reached an agreement with French President Emmanuel Macron on using the profits from frozen Russian assets to support Ukraine, Radio Free Europe/Radio Liberty (RFE/RL) reported.
AFP: Still no G7 consensus over using frozen Russian assets for Ukraine
According to AFP, the U.S. is pushing the G7 to endorse a loan for Ukraine of up to $50 billion, secured by interest on the frozen assets.
FT: US proposes $50 billion Ukraine loan conditional on EU extending sanctions against Russia until end of war
The U.S. has proposed that a $50 billion loan to Ukraine could be repaid by profits from frozen Russian assets, on the condition that the EU agrees to extend sanctions against Russia until the end of the war, the Financial Times reported on June 5, citing a leaked EU discussion paper.
Opinion: Estonia leads the charge on using frozen Russian assets
Estonia’s parliament enacted a law on May 15 enabling the use of frozen Russian assets to compensate Ukraine for the damages caused by Russia’s war. Kyiv and its Western allies have discussed using around $300 billion in Russian assets held in Western accounts to support Ukraine. As of
Ukraine to receive 1st tranche of frozen Russian assets revenue this summer, EU official says
The legal framework within which the funds will be transferred is still in progress, according to David O'Sullivan. The EU sanctions envoy hopes that the decision will be made in "a few weeks."
Estonian president approves law allowing use of frozen Russian assets for Ukraine
"Although the chosen method of compensation is innovative, it aims to protect the prohibition of aggression as a fundamental rule of international law," Alar Karis said in a statement.
G7 announces 'progress' on Russian frozen assets but work still to be done
Ukraine's Western partners and other allies froze around $300 billion in Russian assets at the start of the full-scale invasion in 2022. Roughly two-thirds are held in the Belgium-based financial services company Euroclear.
Opinion: The West should launch a new economic Cold War against Russia
Russian President Vladimir Putin is trying to revive the Soviet Union, but two can play this game. To complete the Kremlin’s grotesque historical reenactment, the West should launch a new economic Cold War in response. In addition to the war of aggression waged against the civilians and cities of
EU Council approves using Russian assets revenue to fund Ukraine
"Up to 3 billion euros ($3.26 billion) (could be raised) only this year, 90% goes for Ukraine's military. Russia must pay for its war damages," Czech Foreign Minister Jan Lipavsky said.
Bloomberg: Germany ready to back US plan to tap Russian assets revenue for funding Ukraine
Washington's proposal envisions borrowing against future profits from the frozen assets and transferring the money to Kyiv upfront from a Group of Seven (G7) loan.
Minister: 3 billion euros of Russian assets revenue 'almost nothing' in war's context
"If we are talking about the needs of Ukraine and the needs of the war, military and non-military, 3 billion euros is actually almost nothing— we need hundreds of billions in order to win the war," Justice Minister Denys Maliuska told Politico at the G7 justice ministers' meeting in Venice on May 9.
EU ambassadors agree on using Russian assets revenue to fund Ukraine
EU ambassadors agreed in principle on a measure using profits from frozen Russian assets to support Ukraine's recovery and military needs, the Belgian Presidency of the EU said on May 8.
Opinion: Will the renewed US support for Ukraine be enough?
New U.S.-supplied weapons and money are now on their way to Ukraine. Whether to provide additional military aid was a matter of debate for many months in the U.S. Congress. In the end, Speaker of the House of Representatives Mike Johnson stared down the most right-wing elements
Opinion: The REPO Act hasn’t won the war for Russian assets
U.S. President Joe Biden signed the Rebuilding Economic Prosperity and Opportunity for Ukrainians (REPO) Act on April 24. Largely overshadowed in the media by the groundbreaking approval of $61 billion in aid for Ukraine that same day, the REPO Act is equally crucial. However, the REPO Act has not
Reuters: Russian court cancels confiscation of some JPMorgan assets in dispute with Russian bank
A Russian court canceled the seizure of some of JPMorgan funds in Russia as part of a lawsuit with the Russian state-owned bank VTB, Reuters reported on May 2.
Medvedev threatens Russia may seize private US assets if Washington seizes frozen Russian reserves
Russia could seize assets and property of U.S. individuals held in Russia if Washington confiscates Russian sovereign assets, Dmitry Medvedev, the deputy chairman of Russia's Security Council, threatened on April 27.
Russia threatens to decrease diplomatic relations with US in response to REPO Act
Russia could lower its level of diplomatic relations with the U.S. if confiscated frozen Russian assets are transferred to Ukraine, Deputy Foreign Minister Sergei Ryabkov told Russian state-controlled media on April 25.
US House approves bill to transfer seized Russian assets to Ukraine
The U.S. House of Representatives on April 20 passed a bill that would allow the seizure and transfer of frozen Russian assets held in the U.S. to Ukraine.
Shmyhal: Both major US parties support aid package for Ukraine
Prime Minister Denys Shmyhal said at the close of a visit to the United States that he received "assurances of support" for the proposed military aid package to Ukraine from both Democrats and Republicans in Congress.
EU official: G7 considers using frozen Russian assets as collateral for Ukraine loans
The Group of Seven (G7) countries are discussing using frozen Russian assets as collateral to provide loans to Ukraine, Reuters reported on April 18, citing European Commission Executive Vice President Valdis Dombrovskis.
Three years of reporting, funded by our readers.
Millions read the Kyiv Independent, but only one in 10,000 readers makes a financial contribution. For our third birthday this November, we're looking for 1,000 new members to fund our mission and to help us prepare for what 2025 might bring. We’re relying on you.
Help us get 1,000 new members!
Most popular
Editors' Picks
Kremlin finds new enemies to target — Russians without kids
With Scholz's government in shambles, conservative rival touts more decisive Ukraine strategy
Ukraine reacts warily to Trump appointments as Russia’s war rages on
