Ukraine's partners move step by step toward decisions on using frozen Russian assets – Ukraine's Foreign Minister

Foreign Minister Dmytro Kuleba has spoken about the actions taken to ensure that ambitious decisions regarding the use of frozen Russian assets are made at the G7 summit.

Source: Ukraine's Foreign Minister Dmytro Kuleba in an interview with Ukrinform, as reported by European Pravda

Details: Kuleba expressed his understanding regarding Ukrainian allies' concerns about the consequences of using frozen assets.

Quote: "But we believe that there are all international legal grounds for using not only the profits but also the assets themselves in the interests of Ukraine. International law defines them clearly enough." 

Kuleba stated that concerns about the stability of reserve currencies or the observance of the rule of law are also significantly exaggerated. 

"Overall, we see that our partners are moving step by step toward this decision. The steps towards using the profits are already quite significant and we are grateful for them," Kuleba said. 

He also mentioned the example of Estonia, which recently adopted legislation that de jure allows for the use of these assets. 

"I am grateful to our Estonian partners for having the courage to set precedents. We are working to ensure that other partners also take ambitious steps. They will have to adopt them sooner or later," Kuleba emphasised.

Background: 

• Earlier, it was reported that the G7 leaders at the mid-June summit are still hoping to reach an agreement on using the profits from frozen Russian assets to aid Ukraine, but consensus has not yet been achieved.
• The US proposal suggests that the G7 provide Ukraine with a US$50 billion loan, which will be repaid with the proceeds from frozen Russian assets.
• Meanwhile, the European Union has put forward an alternative proposal to provide a loan to Ukraine using its seven-year budget of €1.2 trillion as collateral. During this week's discussions, EU countries did not decide which proposal to support.

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