By Victor Duda
The amount of the loan provided by Ottawa was $ 2. 5 billion, which is about $ 1. 7 billion. This is the first tranche in the Great Seven (G7) Extraordinary Revenue Acceleration for Ukraine (ERA), for which G7 countries plan to allocate loans for $ 50 billion from the profit of the Central Bank of Russia frozen at the west. "These funds, provided with income from frozen Russian assets, will be directed to the priority needs of the state budget,"-wrote Prime Minister Schmigal in Telegram.
He also reported that Canada has allocated five billion Canadian dollars, which is over $ 3. 4 billion in ERA. "I thank Canada and all G7 partners for creating a mechanism that forces Russia to be financially responsible for aggression," Denis Shmigal said. Recall that in 2024, the countries of G7 and the European Union agreed to provide Ukraine with loans worth about $ 50 billion.
This loan will be paid at the expense of interest, which is automatically accrued for Russia's assets, blocked in the Western countries within the framework of sanctions imposed against the Russian Federation through its invasion of Ukraine. In total, about $ 280 billion in the Western countries blocked the Central Bank of the Russian Federation, most of the EU. Analytists estimate that the frozen assets of the Russian Federation make a profit of 2. 5-3. 5 billion euros.
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