G7 to discuss common principles, Japan to transfer more than 3 billion USD to Ukraine

Kyodo news agency on July 17 quoted a Japanese diplomatic source as saying that Japan is completing the final procedures to contribute $3.3 billion (about 520 billion Yen) in aid to Ukraine through the use of profits from frozen Russian assets.

Japan will transfer $3.3 billion to Ukraine from profits from frozen Russian assets. (Source: Getty Images)

According to Kyodo , the above figure accounts for about 6% of the total amount of 50 billion USD that the Group of Seven (G7) of leading industrialized countries reached an agreement to support Kiev at the summit last June.

The G7 is expected to discuss reaching a common principle when finance ministers and central bank governors of the Group of 20 leading developed and emerging economies (G20) meet in Rio de Janeiro, Brazil later this month.

Accordingly, an unprecedented framework for the use of profits from Moscow's frozen assets is gradually being realized and implemented by the end of this year.

The US and the European Union (EU) - which are leading the effort - will each contribute 20 billion USD, with the remaining 10 billion USD being covered by Japan, the UK and Canada.

Japan alone is expected to contribute 3.3 billion USD.

Source: https://baoquocte.vn/tai-san-nga-bi-phong-toa-g7-sap-thao-luan-mot-nguyen-tac-chung-nhat-ban-se-chuyen-hon-3-ty-usd-cho-ukraine-279034.html